Unclaimed Property in Georgia: How to Claim What’s Rightfully Yours
Learn how Georgia residents can navigate the process of recovering unclaimed assets through clear guidelines, eligibility checks, and filing steps.
Every year, millions of dollars in unclaimed property sit idle in Georgia’s state treasury—forgotten bank balances, insurance payouts, and other assets that never reached their rightful owners. While the state holds these funds indefinitely, many Georgians may be unaware they are entitled to claim a portion. Recovering this money involves navigating a specific process established by the state.
Types of Unclaimed Assets
A wide array of financial assets can become unclaimed property held by the state, ranging from dormant accounts to uncashed checks.
Bank Accounts
Checking and savings accounts are common forms of unclaimed property. Under Georgia Code Section 44-12-205, these accounts are generally considered abandoned if the owner has not initiated activity or communication regarding the account for five years.1Georgia Department of Revenue. Unclaimed Property – FAQ This includes making deposits or withdrawals or otherwise indicating interest. After this period, financial institutions must report and transfer the funds to the Georgia Department of Revenue, which holds them until claimed.
Insurance Proceeds
Funds from insurance policies, particularly life insurance, frequently become unclaimed. This often happens when beneficiaries are unaware of a policy or cannot be located after the insured person’s death. Georgia Code Section 44-12-208 states that funds from matured or terminated life or endowment policies or annuity contracts are presumed abandoned if unclaimed for more than three years after becoming payable. Insurance companies must attempt to find beneficiaries before transferring unclaimed proceeds to the state.
Security Deposits
Security deposits for rental properties or utilities can also end up with the state. For utility deposits, Georgia Code Section 44-12-210 specifies abandonment one year after service termination if the deposit remains unclaimed. While landlord-tenant laws govern the initial return of rental deposits, if a landlord cannot locate a former tenant after following required procedures, the funds may eventually be classified as unclaimed property under provisions like Georgia Code Section 44-12-214 (miscellaneous intangible property) and transferred to the Department of Revenue after one year.
Statutory Claim Conditions
Under Georgia’s Disposition of Unclaimed Property Act (Georgia Code Title 44, Chapter 12, Article 5), the state acts as a custodian for abandoned assets, holding them indefinitely until the rightful owner or their heirs file a valid claim, as detailed in Georgia Code Section 44-12-216. The state does not take ownership; the owner’s right to reclaim assets is protected perpetually.
The ability to file a claim is limited to specific parties. The original owner has the primary right. If the owner is deceased, the claim can generally be made by legally recognized heirs, beneficiaries named in a will, or the executor or administrator of the estate. Georgia Code Section 44-12-220 allows any person claiming an interest in property held by the state to file a claim. Claimants must assert their entitlement based on the information reported by the original holder (like a bank or insurance company) to the state.
While the right to claim does not expire, the claim itself must follow the administrative process set by the Georgia Department of Revenue, which manages the Unclaimed Property Program. Meeting these procedural requirements and demonstrating a valid legal interest as the owner or heir are the core conditions for reclaiming property.
Verification of Ownership
To ensure assets are returned correctly, the Georgia Department of Revenue’s Unclaimed Property Program requires claimants to provide documentation confirming their identity and right to the property. The specific documents needed vary based on whether the claim is from the original owner, an heir, or a business.
Individual owners typically need to submit a clear copy of current government-issued photo identification, such as a driver’s license or state ID card, as indicated by Georgia Code Section 44-12-220(a). Proof of the Social Security number associated with the property might be requested, often via a copy of the Social Security card. Documentation linking the claimant to the address listed on the unclaimed property report, like old utility bills or tax documents, is also frequently required. If the claimant’s name has changed, legal documents such as marriage certificates or court orders are necessary.
When the original owner is deceased, claimants must prove their status as a rightful heir or legal representative. This usually requires the owner’s death certificate. Additional documents might include the deceased owner’s will, court documents appointing an executor or administrator (often required to be current), or court orders detailing estate distribution. Establishing the chain of entitlement from the original owner is crucial.
Businesses claiming property must verify their identity and entitlement, usually by providing their Federal Employer Identification Number (FEIN). Documents like Articles of Incorporation may be needed. If the business name changed or merged, records showing the transition are required. The individual filing for the business must also prove their authority to act on its behalf, potentially through a notarized statement or corporate resolution, along with their own identification. The Department evaluates all submitted documentation before approving the release of property.
Filing Procedures
The process begins by searching for potential property using the free, searchable online database on the Georgia Department of Revenue’s website.2Georgia Department of Revenue. Search for Unclaimed Property Individuals and businesses can look for assets listed under their name, a deceased relative’s name, or a business entity’s name.
Once property is located, a formal claim must be submitted. Georgia Code Section 44-12-220 requires using the form prescribed by the commissioner of the Department of Revenue.3Justia Law. Georgia Code § 44-12-220 – Claims Procedure The state’s online system often allows claimants to start the claim directly from the search results after registering for an account on the unclaimed property portal. This registration enables electronic form completion and status tracking.
The claim form, whether completed online or downloaded for manual submission, must be filled out accurately. Supporting documents can often be uploaded directly through the portal for electronic claims. For manual filing, the signed form and required attachments must be mailed to the address provided by the Unclaimed Property Program.
After submission, the Department of Revenue reviews the claim. According to Georgia Code Section 44-12-220(b), the commissioner must consider each claim and provide written notice if it is denied, typically within 90 days.4FindLaw. Georgia Code § 44-12-220 – Claims Procedure Claimants can often monitor progress via the online portal. Following these procedures moves the claim toward potential approval.
Common Grounds for Denial
Claims for unclaimed property can be denied for several reasons. A primary issue is the claimant’s inability to provide sufficient proof establishing their legal entitlement to the specific property. This includes verifying identity and demonstrating a clear link to the original owner or the property, such as a connection to the last known address. Inadequate documentation can lead to rejection.
Inconsistencies or discrepancies in the claim or supporting documents may also result in denial. Examples include name mismatches without legal explanation (like a marriage certificate) or incomplete estate documentation for deceased owners.
Failure to meet procedural standards, such as not using the correct form or providing incomplete information as required by Georgia Code Section 44-12-220(a), can also be grounds for denial. Submissions lacking necessary details hinder the verification process.
Claims might also be denied if they relate to property not actually held by the Georgia Unclaimed Property Program (like real estate, which falls under county tax commissioners) or if filed by someone without a legitimate legal interest. In cases of competing claims for the same property, the Department evaluates the evidence from all parties. If a claimant cannot sufficiently establish their right, the claim will likely be denied. The Department provides written notice of denial, usually within 90 days of filing.
Additional Remedies for Claimants
If a claim is denied by the Georgia Department of Revenue, or if the Department does not act on a claim within 90 days, claimants have further options. Georgia law allows for judicial review if the initial decision is believed to be incorrect.
Under Georgia Code Section 44-12-221, anyone dissatisfied with the commissioner’s decision can appeal to the Superior Court of Fulton County.5Justia Law. Georgia Code § 44-12-221 – Appeal Of Commissioner’s Decision A denial or failure to act within the 90-day timeframe constitutes a final agency decision eligible for review. The appeal must be initiated within 90 days of receiving the decision or within 180 days from the claim filing date if no decision was made.
The appeal in Superior Court involves a “de novo” trial, meaning the court examines the case anew, without a jury, rather than just reviewing the Department’s prior decision. While the initial record typically includes documents from any administrative hearing, Georgia Code Section 44-12-221 allows the court to permit additional evidence upon a showing of “good cause.” This provides claimants an opportunity to present further support for their case. Filing an appeal within the deadlines offers a formal legal process to challenge the administrative outcome.
