Disclaimer: This article is for informational purposes only and does not constitute legal advice. For guidance specific to your circumstances, please consult a qualified attorney.
Detailed Answer
1. Understand Vermont’s Unclaimed Property Law
Under Vermont law, unclaimed property refers to assets held by businesses or financial institutions that have had no owner contact for a period specified by statute. Common examples include dormant bank accounts, uncashed checks, life insurance proceeds and safe deposit box contents. The Vermont Unclaimed Property Act, 27 V.S.A. § 1501 et seq., requires holders to report and remit abandoned property to the State Treasurer’s Office. See statute: 27 V.S.A. § 1501.
2. Search the Vermont Unclaimed Property Database
The Vermont State Treasurer maintains an online searchable database. Heirs can enter the deceased relative’s name or last known address to locate potential assets.
Access the database here: Vermont Unclaimed Property Search.
3. Gather Required Documentation
To verify your status as heir, you typically need:
- Death certificate of the decedent
- Proof of relationship (e.g., birth certificate, family tree, will)
- Letters of administration or probate documents if estate is open
- Photocopy of your government-issued ID
4. Complete and Submit a Claim Form
Download the official claim form from the Treasurer’s website. Provide accurate contact details, list each property, and attach certified copies of the required documents. Under 27 V.S.A. § 1507, the Treasurer’s Office reviews and approves valid claims. See procedure: 27 V.S.A. § 1507.
5. Follow Up and Receive Payment
After submission, the office typically processes claims within 60–90 days. You may receive payment by check or direct deposit. If additional information is needed, the Treasurer’s Office will contact you directly.
Helpful Hints
- Search under all name variations, including maiden names and nicknames.
- Check other states’ databases if the decedent lived or held accounts elsewhere.
- If the estate is in probate, inform the executor of your findings to include in estate administration.
- Keep copies of all paperwork and track submission dates.
- Contact the Unclaimed Property Administrator at (802) 828-2407 for questions.