(Part 1 of 2)

Virginia is waiting for citizens to step forward and take back their forgotten funds. The state currently sits atop a heap of VA unclaimed cash totaling in the tens of millions of dollars. Over $27 million was returned to residents of Virginia in 2005, and that's only a small slice of what is still waiting to be claimed.

The state of Virginia, like every other state, continues to take in more unclaimed money than it returns to citizens, primarily because most people are simply unaware of these funds, and those that are aware, don't know the proper way to search for them. There is a correct way and an incorrect way to search, and sadly most people have not been taught the correct way.

According to the Unclaimed Property Division of the VA Dept. of the Treasury, VA unclaimed money comes from a number of sources, which include (but are certainly not limited to): "savings and checking accounts, wages or commissions, underlying shares, dividends, customer deposits, credit balances, gift certificates, credit memos, refunds".

A person doesn't need to currently live in VA to be owed unclaimed property, particularly sense the majority of accounts must lie dormant for 1 to 3 years before they are turned over to the state, and laws governing other types do not require that they be turned over for 7, 10, even 15 years! Moving out of state does not mean you've given up your rights to the money at all.

(to be continued)

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REGION: County lays claim to unclaimed money
RIVERSIDE —- Riverside County officials moved Tuesday to deposit $1 million in unclaimed property tax refunds and $350,000 in other unclaimed money into the government's general fund.

This week, I'm answering questions from readers, because there's an

North Carolina Works Hard to Return

Area towns get share of state's unclaimed property
Local towns are among the 124 municipalities receiving a share of the unclaimed property money from the State Treasurer's Office.

Tewksbury to receive
Treasurer Steven Grossman Thursday announced that Tewksbury will receive $1,622 for two