Complete Legal Virginia Abandoned Property Forms For Free

Disposal of property abandoned by tenants. If any items of personal property are left in the dwelling unit, the premises, or any storage area provided by the landlord after the rental agreement has terminated and delivery of possession has occurred, the landlord may consider such property to be abandoned.

In each case, these abandoned properties are considered unclaimed and therefore escheatable after a designated period, called a dormancy period. The timing can differ for different types of property. For example, an employee's paycheck might be considered dormant just one year after the date payable.

Negative reports refer to reports that need to be filed when there is no unclaimed property to report or remit to the state for the year. Virginia does not require negative reports.

Virginia law requires businesses turn over unclaimed property to the state, which is then managed by the Virginia Department of the Treasury Unclaimed Property Division. It holds on to the unclaimed property until the rightful owner or heir files a claim.

Funds held or owing under any life or endowment insurance policy or annuity contract that has matured or terminated are presumed abandoned if unclaimed for more than five years after the funds became due and payable as established from the records of the insurance company holding or owing the funds, except that ...

For the fastest service, you are encouraged to use our vaMoneySearch.gov website and search for property using the Click and Claim searchable database. We may also be reached via email with your questions and concerns regarding your claim or general unclaimed property at ucpmail@trs.virginia.gov.