Do You Have Unclaimed Property in Tennessee?

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Do You Have Unclaimed Property in Tennessee?

 

By Crystal Mitchell

Unclaimed property should be reported to the Tennessee Unclaimed Property Division.  This property can be anything intangible that has been abandoned or unclaimed by the rightful owner.  Examples include bank accounts, stock certificates, checks, unclaimed wages, refunds, and gift certificates.

When you have property belonging to someone else, send the owner a letter to the last known address telling them about the situation and ask them to either pick up the item or give you a current mailing address to send it to.  If after a reasonable period of time there is no response to the letter, you must send these items to the unclaimed property of the state of Tennessee.  The State of Tennessee will then be the custodian of the property until it is claimed.  The website www.tn.gov/treasury/unclaim has good information for questions of what to do with unclaimed property.

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