Adam’s Blog

That’s my thing, keepin’ the faith, baby. –Joe Friday

Last Chance for Some Unclaimed Property in Idaho

Posted by Adam Graham on March 1, 2007

If you’ve lived in Idaho ever, you’ll want to do a search to see if you have any unclaimed property out there. Jennifer Gelband points out that on July 1st, Idaho law is going to change:

What is this business of unclaimed money, you ask? It is not a giant wad of ones in a government billfold; they are assets, unclaimed because people either didn’t know they had them or forgot about them, such as stocks, bonds, mutual funds, bank accounts, uncashed payroll checks, utility deposits, traveler’s checks, and contents from deposit boxes.

Idaho is unlike most other states, which have no time limit for holding unclaimed property until it’s claimed, because a law change in 1997 made it so the state of Idaho can take permanent ownership of property that has been unclaimed for 10 years or longer beginning July 1, 2007.

“We’d like to return as much money as we can to owners before the state takes possession of it,” said Melanie Wade, spokesperson for the Tax Commission’s Unclaimed Property Program. “Everybody should check the unclaimed property list …to see if they have property that belongs to them or their relatives.”

Anyone that you would inherit from, it’d be a good idea to do a search. I do sympathize with those who may lose property as a result of it, but it’s been ten years and if you haven’t missed in that long, what are the odds of you showing up. Claim it now–or else.

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