Unclaimed Property Recovery

All states have enacted laws governing the responsibility for, administration of and reporting requirements for holders of real property and personal property. All property holders are required to file unclaimed property reports to the appropriate state agency.

In general, after a stated period of time, unclaimed property must be remitted to the state of the owner‘s last known address or the property holder‘s state of incorporation. For an unincorporated entity, the property is reportable to the holder’s legal domicile.

CTMI provides a dual-focused review to:

• Identify and locate overlooked personal property and real property belonging to your company.
• Assist in managing your company’s unclaimed property compliance to ensure only true liabilities are submitted.