Where can my tenants find any unclaimed assets, overpayments, or dormant accounts once “escheated” in Pennsylvania?

As part of our efforts to provide valuable resources to our customers, we regularly share information that we have researched that can be of use to landlords and property managers.  This week we are featuring information that may be of value to your tenants (and therefore may be beneficial to you as well)

This week we are featuring a common question: 

Question: Where can my tenants find any unclaimed assets, overpayments, or dormant accounts once “escheated” in Pennsylvania?

Answer:  The law in Pennsylvania requires businesses to record and report unclaimed property annually, by April 15th. A business that cannot locate the owner of unclaimed property must turn the property over to the state after the dormancy period. The dormancy period in Pennsylvania is 3 years.

 You can search for any accounts that have been turned over to the State of Pennsylvania via the link: https://patreasury.gov/unclaimed-property/