To highlight this issue, we begin our example search using a last-name only, and we use the common last name “Smith.” The result screen tells us that our search resulted in 1,000 properties, but that is actually not correct. The state does not become the owner of the property, but does become the custodian of the property until the actual owner can claim the property. The choices are: owner, estate representative, heir, and business representative. The PBGC has a database set up to help people find their unclaimed benefits. Once you complete and submit the application, you will receive a notice of a successful submission. The relatively high interest rate makes tax liens an attractive investment. As of November 7, Birmingham, AL currently has 8,924 tax liens available. The holder is then required to notify the state about the unclaimed property, and the property is transferred into the state’s custody. If a person’s real name is Bobby or Robert, then you would want to run searches with those names as well. The State of Alabama warns: buyers beware on purchase of tax sale property – you are buying the tax lien only – not the real property. On the same date last year 803 properties were on the delinquent tax list. However, that is usually a nickname. Fortunately, the National Association of Insurance Commissioners’ Life Insurance Policy Locator Service, has set up a system that can help you locate unclaimed life insurance benefits. Don't have an account yet? (Ala. Code § 40-10-141). Use the Preforeclosure option to see all Sheriff Sales and auction dates. Each year, unclaimed or abandoned assets are turned over to Alabama Unclaimed Property by financial institutions and businesses that lose contact with the owners. However, the Bob Smith results are listed at the top of the search results, and there are only four of them: To further narrow down the results, you can add in information from any of the search parameters. Searching for “Bob Smith” instead of just Smith, we still had over 1,000 results, but if you look at the search results you will see that is because it still gave us all of the results for Smith. Alabama considers its unclaimed property procedures to be a consumer protection action and takes possession to help reunite people with their abandoned property. Once contact has not occurred for a specified period of time and the holder is unable to reach the property owner, the property is considered abandoned. There is over $17 billion in unclaimed bond funds right now. As of November 4, Birmingham, AL currently has 8,929 tax liens available. CollegeCounts will randomly select 29 winners to receive $529 in contributions to an existing or newly opened CollegeCounts account. Follow the steps we have outlined to help increase your chances of finding your abandoned money. The court will determine the total amount you owe, enter a judgment, and order the home sold. In addition to those four sites, which may be holding money for you or an ancestor, you should look at your personal circumstances and determine whether you should check these other federal sites as well: the Department of Housing and Urban Development, the FDIC, the Veteran’s Administration, and the National Credit Union Administration. You also want to include some non-state sources. After submitting your claim, the state will let you know what type of supporting documentation you need to provide in order to claim the property. You also want to include any states where you have resided. © 2020 Advance Local Media LLC. It will hold the property in its custody in perpetuity until it can be claimed by the rightful owner or a person authorized to claim it on behalf of the rightful owner. However, you should be forewarned that it can be very difficult to find lost bond money at this site. (The Huntsville Times/File photo). We tell you where to go to find unclaimed property in Alabama and locations outside of Alabama that you should include in your search. The advertising costs, the amount of unpaid property taxes, fees and penalties add to the cost of getting a property off the delinquent rolls. The taxes were considered delinquent if they had not been paid on Jan. 1. What happens when you buy a tax lien? These tax foreclosed homes are available for pennies on the dollar - as much as 75 percent off full market price (and more)! On Friday morning, there were 1,017 pieces of property with 2011 property taxes due, said a spokeswoman in the Tax Collector's Office. The four sites that should be part of every unclaimed money search are: the Life Insurance Policy Locator, the National Pension Benefit Guaranty Corporation, the Internal Revenue Service, and the U.S. Treasury. Department of Housing and Urban Development: http://entp.hud.gov/dsrs/refunds. You will receive FREE saved search emails directly to your inbox. In Alabama, unclaimed property refers to various types of abandoned financial assets. It will not include vehicles or real property. That classification is based on the amount of contact that the property owner has had with the holder. Center Point, AL 35215, Your Search has been saved. If you have questions, feel free to contact the Delinquent Tax Office at 502-574-6016, M-F 8:30 AM to 5:00 PM or go online to www.JeffersonCountyClerk.org. That is not true; the process is a relatively easy one, even if it can become somewhat time consuming. The State of Alabama’s official position is that people should not hire finders to help them search for or claim unclaimed property. In the Jefferson County courthouse, probate judges are located on the first floor. Once you have found a property for which you want to apply, select the CS Number link to generate an online application. This gives you the ability to pay your property taxes at your convenience, anytime day or night; the convenience of paying from your home, work or anywhere that you have access to the internet. Jefferson County has published a list of property owners who are late paying their property taxes. In order to save a search you first need to create a profile. Of course, you can enter additional information if you want to narrow the search, including the city, the zip code, or the property identification number. Note to readers: if you purchase something through one of our affiliate links we may earn a commission. Choose electronic account management when it is an option, and use a single email address for your accounts. There are still more than 1,000 search results, but only one of them matches Bob Smith and is in Mobile: Once you have a preliminary list of results, you can hit the “claim” button to begin the claim process. The state takes possession of property once it is considered abandoned. WELCOME TO ALABAMA UNCLAIMED PROPERTY. Keep them in a central location. Before turning property over to the state, the organization holding the property, which is known as the holder, has to make efforts to contact the owner and establish activity with them. Examples of unclaimed property include: savings accounts, checking accounts, unpaid wages, securities, life insurance payouts, material in safe deposit boxes, and uncashed checks. To determine whether you may have business contacts in a state make sure and include states where your employer is incorporated and states where your insurers may have been based. We explain why states have unclaimed property databases. A list of the delinquent properties and the owner of record was published twice this month in The Times. You get a drop-down menu when you hit the arrow on the claimant relationship button. We are honored to have the privilege to serve you. Sheriff Sales are now Preforeclosures. We detail the type of documentation you may need to provide to verify your unclaimed money claim. Other sources to search besides AL state database? We explain how unclaimed property databases work. On the other hand, using more parameters will exclude some potential results. Probate courts are typically housed in the county courthouse. Once you are at the site, beginning your search is easy. After you have submitted your claim, you need to collect any supporting documents that you were told to gather and send it to the state at RSA Union Building, 100 North Union Street, Suite 636, Montgomery, AL 36104: Alabama’s unclaimed property law is known as Article 2A Uniform Disposition of Unclaimed Property Act of 2004. Are you looking to buy a tax lien in Montgomery, AL? Jefferson County Tax Collector J.T. By providing you with an in-depth overview of the unclaimed money process, not only in Alabama but also in the other sites you should visit in order to run a complete search, we give you a better idea of what the unclaimed money search and claim process entails. On real property (land & improvements), the buyer can be held liable for any unpaid taxes. Smallwood, in a statement on top of the list, states that on June 30 he will hold a public auction to the highest bidder for cash at the Jefferson County Courthouse in Birmingham. However, if you would not run a search on your own, it may be profitable for you to choose to use a finder service. It will not include vehicles or real property. Over the last five years, the state of Alabama has returned over $125 million to rightful owners.
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