How do Accounts Become "Unclaimed"?
Often the owner forgets the account exists, moves and does not leave a forwarding address. Funds may also remain from companies that have dissolved. In some cases the owner dies and the heirs have no knowledge the account exists.
Why do States have Unclaimed Asset Laws?
Laws were enacted to prevent businesses from using your money or taking it into their income possession.
What Attempts are Made to Find Owners?
Most States require the business to send a notice to the last known address informing you that your account will be transferred to the state for "safe keeping".