Complete Legal Louisiana Abandoned Property Forms For Free

Once property is in the custody of the state and its unclaimed property program, an aggressive outreach effort begins through mailings, social media, advertisements, and local media coverage. The state will maintain custody of the property in perpetuity until the rightful owner or heirs come forward to claim.

You can also get legal title to the abandoned property, depending on the circumstances. The process of gaining title by squatting is called ?adverse possession? or ?acquisitive prescription.? In Louisiana, you can gain title to abandoned property in limited circumstances.

Louisiana Dormancy Periods Dormancy periods in Louisiana for common property types include: Wages, Payroll or Salary: One year. Refunds Due: Three years. Checking Accounts: Five years.

To get that cash, you fill out a claim form to prove your ownership. It could take up to 90 days to become yours. Other states have unclaimed property databases too. if you've lived somewhere else, you can go to Unclaimed.org and see if somewhere in your past, some cash was trying to make its way back to your wallet.

To find out if you or somebody you know has a "Hidden Treasure" waiting at the Department of Revenue, contact the Unclaimed Property Section toll-free at 1-888-925-4127 or 225-925-7407 in Baton Rouge, Monday through Friday, from a.m. to p.m. Written inquiries can be sent to: Louisiana Department of Revenue, ...

Louisiana requires holders to send due diligence notifications for any property with a value of $50 or more. Due diligence notices must be sent each reporting cycle to the apparent owner at the last known address no more than 120 days and no less than 60 days prior to the reporting deadline.