| Most people know Tennessee for its country | | | | to, but those are the most common. |
| music and world famous barbeque, but the state | | | | People often search the wrong lost money sites |
| is also home to a lesser-known treasure - | | | | because they're under the impression that any |
| unclaimed property. In fact the TN Treasury | | | | site that let's them put their name in to a search |
| Department adds tens of millions of dollars in | | | | box will do. This couldn't be more wrong. For |
| Tennessee Unclaimed Money to its rolls each | | | | starters, there are very few sites that actually |
| year, and only a fraction of it is ever reunited | | | | have the official state listings, and even those are |
| with the rightful owners. In turn, this pile of cash | | | | notoriously inaccurate because they aren't |
| grows larger and large by the year. | | | | updated in real time. There are dozens of types |
| The TN Treasury department took in about $40 | | | | of unclaimed funds, but according to the State |
| million in unclaimed property in 2006 alone, and | | | | Treasurer's office, Tennessee's most common |
| only returned $20 million to the rightful owners. | | | | are bank accounts, stock certificates, checks, |
| This means that another $20 million was added to | | | | unclaimed wages, refunds, gift certificates. Each |
| the already swollen pile of cash that remains | | | | type has it's own "dormancy period", which is the |
| unclaimed. This trend of returning only a fraction | | | | time that must pass before the holder is required |
| of what the state takes in is consistent across | | | | to hand the monies over to the state to hold for |
| the country because of a lack of education about | | | | the owners. Because of this a search may not |
| these funds. The truth is, most citizens are simply | | | | return any claims simply because the fund won't |
| unaware of the tens of billions out there waiting | | | | be turned over until the following month or year, |
| to be claimed. | | | | or even for a number of years. This is why |
| States do things like annually publishing names in | | | | people must search frequently to be certain |
| local newspapers of the people who are owed | | | | they've exhausted all avenues. |
| money and setting up tables at county fairs to | | | | In addition to the issues mentioned above, |
| promote awareness, but the message still only | | | | beginners will run in to quite a number of |
| reaches a tiny fraction of the population. Even | | | | stumbling blocks that will frustrate them in their |
| among those who are aware of the potential to | | | | searches. The only way for Tennessee residents |
| find these lost assets, very few know where to | | | | to know that they're performed thorough |
| begin their search. Many fall in to the trap of | | | | searches is to educate themselves before they |
| believing that any old missing money site will do, | | | | get started. The best way to do this is to mimic |
| while others don't understand that they need to | | | | what others are doing. Why go the trial and error |
| search more than once. There are quite a number | | | | route when they can learn from experienced |
| of issues that searchers just starting out run in | | | | searchers and duplicate their techniques? |
