Setting out to look for properties in Michigan is easy, thanks to Michigan state’s unclaimed property website. The Michigan unclaimed property website is the first place to visit if you want to recover a property that is dormant. This is applicable if the last residential address of the property owner in Michigan state. Running an unclaimed property search can be time-consuming and complicated. However, with the aid of Michigan state unclaimed money databases and other well-designed federal databases, it is easy to locate the source of a Michigan unclaimed property
In the course of this article, we will give you a definite guide on how to recover an unclaimed property in Michigan State.
What is an Unclaimed Property?
Unclaimed property is an asset that is in the position of a financial institution but is actually owned and managed by other corporations or entities. These financial institutions consider a property to be unclaimed if there has been no activity related to that property for a duration of time. When an asset exceeds a period of time and has undergone due auditory process, The property will be handed over to the state government. This phenomenon is known as dormancy.
Michigan Unclaimed Property Database
Looking for unclaimed property in the whole of the United States is like searching for a needle in a haystack. This is why every state in the United States has its own unclaimed property database. Coming down to Michigan, it gets simpler as all the counties have their own unclaimed property database. On the official website of Michigan unclaimed property website, you can actually search for properties using the county criteria.
Yeah, all the lists of counties that you can search for in Michigan state; Alcona, Jackson, Livingston, Tuscola, Presque Isle, Iron, Sanilac, St. Joseph, Allegan, Alpena, Antrim, Arenac, Mackinac, Macomb, Manistee, Marquette, Mason, Mecosata, Menominee, Midland, Alger Missaukee, Monroe, Montcalm, Montmorency, Muskegon, Newaygo,Ottawa , Luce, Roscommon, Saginaw, Schoolcraft, Shiawassee,St. Clair, Van Buren, Ingham, Ionia, Washtenaw , Iosco, Isabella,Wayne, and Wexford.
Oakland, Oceana, Ogemaw, , Baraga, Barry, Bay, Benzie, Berrien, Branch, Calhoun, Cass, Charlevoix, Cheboygan, Chippewa, Clare, Ontonagon Grand Traverse, Clinton, Crawford, Delta, Dickinson, Eaton, Emmet, Genesee, Gladwin, Gogebic,Osceola, Oscoda, Otsego Gratiot, Hillsdale, Houghton, Huron, , Kalamazoo, Kalkaska, Kent, Keweenaw, Lake, Lapeer, Leelanau, Lenawee,
Unclaimed Properties Laws in Michigan
According to Michigan’s uniform unclaimed Property Act, Public Act 29 of 1995, Michigan government entities and businesses have to report to the Department of Treasury of Michigan State about any unclaimed and abandoned property that they hold. This law applies to property owners whose last known address is in Michigan State, and property owners whose last address is not known.
One other regulation that is important to point out is that efforts to contact a property owner needs to be made in no less than 60 days and not more than 365 days before the property is then handed over to the Michigan Department of Treasury.
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