What is Unclaimed Property?

The Michigan Department of Treasury has millions of dollars worth of lost or forgotten assets from dormant bank accounts, uncashed checks, valuables left in safe deposit boxes, and stock certificates. Because these properties were considered abandoned and unclaimed by the bank or company entrusted with them, they are turned over to the state, as required by law.

Treasury is the custodian of these assets and returns them to their owners (or the owners’ heirs) when they are rightfully claimed.