LOUISVILLE, Ky. — Why not try your luck and check Kentuckiana's unclaimed property databases--free money may be waiting for you to claim it.
Unclaimed property is any financial asset that has been left inactive by its owner for a period of time specified by law, usually about three years.
After multiple failed attempts to contact the owner, holders, or the company with the individual's assets, annually report unclaimed property to state governments.
In Kentucky, unclaimed property totals over nearly $800 million in assets, according to the state's website.
According to Indiana Attorney General Todd Rokita, in 2021 Indiana's Unclaimed Property Division returned $48 million to Hoosiers.
Assets that may be considered unclaimed property include:
- closed bank accounts
- court deposits
- insurance checks
- utility refunds
- old paychecks
- closed estates
You can check to see if you have any unclaimed property nationally on Missing Money, or by your state using secure government websites. Both ways of checking are free of charge.
Here's how you can check if you have free, unclaimed money:
To check if you have unclaimed property in Kentucky, visit State Treasurer Allison Ball's website.
Once a claim is filed, you will need to verify the address listed on the unclaimed property as your current or former address and will be required to provide documentation.
Only the owner, heir or court-appointed representative can file a claim for unclaimed property.
Depending on how many claims there are before yours will determine how long it takes to receive a check for the unclaimed property.
In Kentucky, there is no time limit of when a person can claim unclaimed property.
To check if you have unclaimed property in Indiana, visit the state's unclaimed property website or text CLAIM to 46220.
According to the website, those with unclaimed property have 25 years to claim their money before the property is turned over to the state and can no longer be claimed.
Similar to Kentucky, only the owner or heir can claim unclaimed property and will be required to provide documentation and proof that the address listed for the unclaimed property is their current or former address.
To claim property, you must be 18 years or older. If under the age of 18, a parent or legal guardian must claim on the child's behalf.