Unclaimed Money in Oregon—How To Get It
According to KTVZ News, the Oregon Department of State Lands keeps more than 700 million dollars in unclaimed money that belongs to three million former and current Oregonians. This number only grows as the years go by since most owners don’t even know about these lost assets.
You can use DoNotPay to check if you have some unclaimed funds and reclaim them fast. In case you live in Oregon, you can use our guide to find out more about the best ways to find your funds and the reclaiming procedure in this state.
How Does Money Become Unclaimed?
Funds become unclaimed when the owner forgets to collect them or loses touch with the relevant company or institution.
The moment someone discovers the money that the rightful owner has forgotten or abandoned, the status of those funds turns into “found money.” The Oregon laws state that most funds keep that status through a three-year dormancy period. As soon as this period is over, the found money becomes the property of the state of Oregon until the rightful owner reclaims it.
If it’s been a long time since you were supposed to claim your money, there’s no reason to worry—you have the right to request what belongs to you at any time.
What Are the Types of Unclaimed Property in Oregon?
Before you decide to search for the money you can reclaim, you need to get more information about unclaimed property types. You can find more details in the table below:
|Counts as Unclaimed Property||Doesn’t Count as Unclaimed Property|
Why Is There so Much Unclaimed Money in Oregon?
Bearing in mind the dizzying amount of lost money Oregon holds for its residents, the question arises—how is it possible for so many people to forget or abandon so much money? The answer is simple—they aren’t aware of how much money might be waiting for them.
Here are some reasons why Oregonians don’t claim their funds on time:
- They requested a refund but forgot to claim it
- Their relative passed away, but no one informed them about that
- The bank closed down, and they didn’t collect the funds from their account
- The last paycheck from their ex-employer didn’t reach them due to relocation
- They changed their bank, left some money on their old accounts, and forgot about it
- They gave up the claiming idea because they believe it’s a burdensome procedure
- The owner changed their physical address, so their bank or other companies couldn’t reach them
If some of these situations happened to you, it’s time to find out more about the ways of finding your unclaimed funds and filing a claim to get them.
How To Get a Hold of Your Unclaimed Money in Oregon on Your Own
The process of searching for unclaimed money in Oregon consists of three steps:
- Finding your unclaimed funds
- Submitting a claim
- Completing a claim
You can start the procedure on the Oregon Department of State Lands website since it contains the official unclaimed money state database.
How To Find Unclaimed Money in Oregon
The first step you need to take is to track down your unclaimed money. Here’s how you can do it:
- Go to the website and select the Claiming Property
- Click on Search Unclaimed Properties
- Enter your first and last name and hit Search
- Find funds that might belong to you and click on the green Claim button
- Select View Claimed Properties
In case you get too many results, you have the option of adding your zip code or city of residence to narrow the search. Once you have located your unclaimed funds, the next step is to let the state know you want them.
How To Submit a Claim
As soon as you choose all your properties, you must file a claim by completing a web form. To do this, follow the instructions below:
- Click the blue Next button
- Fill in the form with all the necessary details, including your current mailing address and your Social Security number, and click Next
- Confirm your mailing address once again—this step is important as the state will send the check there
- Review the info and go to Submit
Upon completing all these steps, you will get an email containing a claim number and instructions about how to complete your claim.
How To Complete Your Claim
To claim your funds, you need to provide the Department of State Lands with appropriate ownership proof.
You can do it by following these instructions:
- Go to the official Department of State Lands website
- Pick the Claiming Properties tab and select Upload Claim Documentation
- Check the box that confirms all your documents are true and unaltered
- Complete the form and upload the document scans according to the provided instructions
- Click on Submit
If you prefer to send your documents via post, you can mail them to the following address:
Department of State Lands
775 Summer St. NE, Suite 100
Salem, OR 97302
Once you complete these steps, you can consider your claim filed—all you need to do is wait for the officials to process it.
How To Locate and Claim Your Unclaimed Money in Oregon With DoNotPay
Does the above-described procedure look too complicated? In case you wish to proceed with your claim the easier way, DoNotPay is here to support you!
Our search system includes all unclaimed money databases in all U.S. states, which means that you won’t need to comb through two or more databases if you have lived in more than one state. We will help you locate all your unclaimed funds in no time and even file the claim in your stead.
Here’s how you can track the forgotten or abandoned money under your name with DoNotPay:
- Log in to DoNotPay using your web browser
- Select the Missing Money feature
- Provide the chatbot with the necessary details
- Click on Claim My Property if you find some funds you are entitled to
You can relax and let DoNotPay do all the work, avoiding all the hassle of endless clicking and browsing!
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