Search Unclaimed Property Programs
There are many reasons why a piece of property would go unclaimed. Often, to claim the property would entail making the mortgage and taxes current and the owner cannot afford to do that. The ownership may be in limbo as well if the property is inherited, just because someone leaves someone else property doesn’t mean the other lays claim to the active ownership. They can choose to let it be to not gain responsibility for the costs of the property.
Unclaimed property can be purchased at auction or for a low price from the state that it is in. Each state has its own system for managing the properties and you can search Unclaimed Property Programs to identity what is in your area. Once you have found the property that interests you, you can open a claim with the state. The state will then look to validate the claim to assign ownership. This may mean that they will tell you the amount of back taxes owed to gain ownership. If you pay the taxes, the property is yours. In other words, a claim can bring you ownership of a property for the cost of back taxes and not the purchase value of the property. This is an excellent way to get into the turnover business as many buildings can be claimed for a few thousand dollars, renovated and then resold at a significant profit.
What You Will Need
- A Computer, laptop, tablet or smartphone
- Internet access
Steps to Search Unclaimed Property Programs:
- Copy and paste the following URL into your browser or if your system allows, click the link we have provided here: www.unclaimed.org
- Enter or select the state you wish to search.
- Follow the instructions on the state site to conduct a free search.