What is Unclaimed Money in Arizona?

Unclaimed cash in Arizona is the term used to describe cash or any other asset that the caretakers cannot allocate to the proper owner for a certain period. Examples of unclaimed property are unclaimed stocks, returned deposits, savings accounts that have been closed for a long time, royalties, court funds, court funds, tax refunds for income, and estate profits.

Suppose the owner of the property can't be found. In that case, the financial institution that is responsible will hand over the unclaimed assets to the state government following a prescribed dormancy period of 3 years. It begins the time a financial institution files an unclaimed asset statement to the state government when the government has decided to take over ownership. The procedure of transferring assets to the state government is known as escheatment.

In Arizona, the Department of Revenue is in charge of managing money that is not claimed. By Arizona Unclaimed Property Law, the state can only release the unclaimed assets to those who can prove ownership or relationship prior to making claims.

How to Find Unclaimed Money in Arizona

The Unclaimed Property Unit of the Arizona Department of Revenue manages an open database where Arizonans can search for unclaimed cash. The database is updated every day on the first day of each month. Anyone interested can search for the money that is not claimed by entering their first and last names or their business's name into the search box.

Alternately, members of the public with unclaimed funds can make contact with their local Department of Revenue by calling (602) 253-2381 or by visiting their office at the following address:

• Arizona Department of Revenue
• Unclaimed Property Unit
• 1600 West Monroe Street
• Phoenix, AZ 85007

How Do I Find Arizona Unclaimed Money for Free?

The repository online made available to The Unclaimed Property Unit is free and accessible to any member of the general public. Certain federal agencies also have the custody of assets that are not claimed for a brief period and have searchable databases under their jurisdiction. Arizonans can use this database to look up the list of government funds that are not claimed.

The federal agencies responsible for the management of properties that are not claimed include U.S. Courts for unclaimed bankruptcy funds as well as the National Association of Unclaimed Property Administrators as well as the United States Treasury Department. These federal offices work in conjunction in conjunction with Arizona State Government to help find owners of properties that are not claimed.

How to Claim Unclaimed Money in Arizona

People who discover the money they claimed on the state's database will have to apply. They must fill out a claim form and provide evidence of ownership rightfully owned as well as a photocopy of their valid I.D. or certified signature that is notarized on the claims form. Additionally, they must supply the Social Security Number and proof of Arizona residency. A Social Security Number is optional, but it could prove to be sufficient evidence of ownership.

According to Arizona Law, the Unclaimed Property Unit does not release unclaimed property because of name similarities alone. Therefore Arizonans who have completed the name change may also make an application. They'll need evidence of the name change along with an original duplicate of the marriage certificate or a written court order.

In the event of multiple owners of property that is not claimed, Joint owners have to make their claim jointly unless one of the owners has died or both are divorced, or there's the loss of contact. To demonstrate one of the three exemptions the person making the claim must supply the original death certificate or a certified copy of divorce decree or a notarized document which proves that the two parties have equal claims for the home.

If the person requesting the claim are agents, they'll require proof of an authorized agency. Additionally, anyone who wants to make a claim on behalf of deceased owners should fill out an Affidavit for the Collection of Personal Property form and send the original copy in the direction of the Unclaimed Property Unit. The application must include all of the documents required within the application, like vital records as well as an original copy of the decedent's Will (if there is one available). Personal representatives that are appointed to claim a deceased's property that is not claimed must provide the evidence required to prove this as well as the original Letters of Office. The letter must be verified for 60 days prior to filing the claim. Representatives of a corporation or government agency, as well as a nonprofit organization also need to fill out one of these forms The person who is requesting the document must sign a sole proprietorship Affidavit to claim sole proprietorship business claims as well as a partnership agreement to cover business claims from a partnership as well as or an Authorization to Reply form in the case of claims of business corporations as well as an employer-issued form of identification for claims of government agencies.

The person who files a claim has to mail the necessary documents to:

• Arizona Department of Revenue
• Unclaimed Property Unit
• P.O. Box 29026
• Phoenix, AZ 85038-9026

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How Long Does It Take to Get Unclaimed Money in Arizona?

It is expected that the Unclaimed Property Unit will attend to any claim in the initial 14 days of receiving the request via mail. After that, it may be up to 90 days before the claimant to be able to claim the assets. In general, stock and monetary claims are given to the owner after 120 days.

After this time, anyone who wants to file a claim may always call to the Unclaimed Property Unit customer service to keep track of the development in their claim. The customer service lines are open on weekdays from 8:30 a.m. until 5:15 p.m.

1. Phone: (602) 364-0380
2. Toll-free: (877) 492-9957

The toll-free number is only for international calls, and also for area codes 928 and 520. Its Unclaimed Property Unit is also accessible via email. Additionally, those interested may write to customer service representatives for claims-related concerns.

Who Can Claim Unclaimed Money From Deceased Relatives in Arizona?

Family members who are surviving the death of a loved one executors, executors, and court-appointed probate administrators may get Arizona unclaimed funds of relatives who have passed away. They must complete an affidavit, and then provide crucial documents that demonstrate their connection with the deceased. In the Unclaimed Property Unit, Unclaimed Property Unit will only take forms with all of the essential concerns answered.

In Arizona the heirs are able to assign their rights to an inheritor with equal rights. To do this, you must state your intent to do so, choose the 3B option on the form for affidavit, and then include their name as the heir they want to assign their rights.

What Happens to Unclaimed Money in Arizona if No One Claims It?

In accordance with Arizona law The state can only serve as a custodian of unclaimed property up until the owner who is rightfully entitled to claim the property. That means the Unclaimed Property Unit cannot take possession of the property.

The state holds the property up until its owner, his heirs or family members are found. There is no deadline for claim properties in Arizona. Properties that are not claimed are held kept in the state's possession until the owner can claim it.

Can Someone in Arizona Claim Unclaimed Money From Another State?

It is true that Arizonans are able to claim any unclaimed funds from other states. The procedure for filing a claim for unclaimed funds may be different in each state. Consequently those interested in claiming should follow the guidelines laid out by the state government concerned. But, a common rule is that anyone wishing to file a claim has to be able to prove ownership or relationship prior to when the property is released.

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