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Official Web Site (Wisconsin Unclaimed Property)
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Did you know that the Wisconsin State Treasurer has over $300 million owed to 1 million Wisconsin citizens and businesses?
In 2005 we were able to unite over 27,000 people with their property which amounted to around $19 million. In addition, over 248,000 shares of stock valued at over $4 million were returned to Wisconsin citizens or their heirs.
Property becomes unclaimed or abandoned when there has been no owner activity in relation to the account for a period of 5 years AND when the owner has not been able to be contacted by the holder of that asset. A holder may include a bank, savings institution, credit union, insurance company, business or utility company.
Wisconsin unclaimed property can include the following items:
The Unclaimed Property Act does NOT cover real estate.
The Wisconsin State Treasurer serves as custodian of the property on behalf of the owner and holds it in custody in perpetuity until such time as the rightful owner may come forward to claim it. Until the property is returned, the funds are deposited in the Common School Trust Fund and used for low-interest loans to Wisconsin local governments. Interest earned on these loans helps to support local public school libraries.
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Added: Tue Jul 11 2006
