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Most property types in Alabama have a dormancy period of three years. Accounts are considered dormant if the owner of a property has not indicated any interest in the property or if no contact has been made for the allotted dormancy period for that property.
Each year, unclaimed or abandoned assets--cash, stocks, bonds, insurance benefits, and safe deposit box valuables--are turned over to Alabama Unclaimed Property. Alabama Treasury serves as custodian of these assets and makes every effort to return them to the rightful owner or their heirs.
Office of STATE Treasurer Each year, unclaimed or abandoned assets--cash, stocks, bonds, insurance benefits, and safe deposit box valuables--are turned over to Alabama Unclaimed Property. Alabama Treasury serves as custodian of these assets and makes every effort to return them to the rightful owner or their heirs.
These situations can also be referred to as bona vacantia or simply unclaimed property. The concept of escheat maintains that property always has a recognized owner, which would be the state or federal governments if no other claimants to ownership exist or are readily identified.
To search unclaimed funds, use the Unclaimed Funds Locator . Select ALNB - Alabama Northern from the dropdown list and enter the applicable search criteria. If you need additional information, you may contact the Clerk's office at (205) 714-4008.
One who finds a thing lost is not bound to take charge of it; but if he does so he is thenceforward a depositary for... The finder of a thing may in good faith, before giving it up, require reasonable proof of ownership from any person claiming it.
Searching Unclaimed Funds. To search unclaimed funds, use the Unclaimed Funds Locator . Select ALNB - Alabama Northern from the dropdown list and enter the applicable search criteria. If you need additional information, you may contact the Clerk's office at (205) 714-4008.
Holders identify accounts as unclaimed property when there has been no activity in the account for a specific amount of time, generally three (3) years and attempts to contact the owner fail.