The amount and variety of unclaimed property in Delaware and other states is larger than one would think. Sometimes it happens when people move and forget to reclaim their utility deposits or over-payments; other times, people may die and leave some money squirreled away in separate checking or savings accounts. Laws regarding unclaimed property in DE also mean that business owners have legal obligations if they come into possession of unclaimed property.
The list of unclaimed property in DE includes, but is not limited to, stocks, checking/savings accounts, death benefits, vendor checks, over-payments, certificates of deposit, paid-in-full life insurance, uncashed checks, unpaid wages, money orders, credit balances, refunds, dividends, commissions, insurance payments, gift certificates and customer deposits.
1. Know the laws regarding Delaware unclaimed property and how they affect you as a business owner.
2. Search abandoned property in Delaware to see if you have forgotten some assets.
3. Find a Delaware unclaimed property auction.
Action Steps
The best contacts and resources to help you get it done
Know your obligations regarding DE unclaimed property
As a business owner, you're typically required to report and remit unclaimed property in Delaware. If someone forgets to pick up a deposit or a check, make sure you know what your legal obligations are.
I recommend: Get familiar with the
Delaware unclaimed property law so that you stay in compliance. Download the reporting software for free from
ACS Wagers. Also find free
compliance tools at the National Association of Unclaimed Property Administrators' website. The
Business Owner's Toolkit also has information about your obligations regarding unclaimed property in Delaware.
Search Delaware unclaimed property to ensure that your business hasn't left some assets behind
It may be a long shot, but why not perform a Delaware unclaimed property search to make sure your business doesn't have some assets floating around out there somewhere? This makes even more sense if your business has been around for a long time or it has a long string of former owners. You might be pleasantly surprised to find that one of the former owners neglected to retrieve some DE unclaimed property or even some unclaimed land in Delaware that still belongs to your business.
I recommend: Search for abandoned property in Delaware at the state's
Escheat - Unclaimed Property Alphabetical List. Or search for Delaware abandoned property along with many other states at
MissingMoney.com. An adjacent state treasury office may be holding your Delaware unclaimed property. Another source is
CashUnclaimed, although it is a commercial website.
Find property or unclaimed land in DE at auctions
State and local governments, as well as police agencies, sometimes dispose of unclaimed properties in Delaware through auctions. If you like auctions, it can be a good way to save your business some money.
I recommend: .
PropertyRoom.com auctions property seized by law enforcement agencies across the country.
JustAuctions features unclaimed properties in DE, as well as foreclosures and seized property. Also check out
Government Auctions.Org for abandoned Delaware property
Tips & Tactics
Helpful advice for making the most of this Guide
- Be wary if approached by someone who wants money in exchange for information regarding Delware lost property; you can get the same information on your own for free.
The official source of Unclaimed Property in Delaware is
the Unclaimed Property in Delaware page at Business.com
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