Have questions about unclaimed property? See below for definitions of terms used in unclaimed property and frequently asked questions about claiming and reporting unclaimed assets.
Common Terms and their meanings
Affidavit of Heirship - is used to state the heirs of a deceased person. It is commonly used to establish ownership of personal and real property. The person executing the affidavit should not be an heir of the deceased or other person interested in the estate. The affidavit of heirship must also be signed by a notary public.
Claim - to make an official request for money or other benefits to which you claim a legal right.
Court Order of Final Distribution - An order of final distribution made by the courts when all debts have been paid or adequately provided for and the estate is ready to be closed.
Dividends - the portion of corporate profits paid out to stockholders.
Heir - a person who is legally entitled to receive the decedent’s property upon the death of the decedent.
Holder - the business or entity holding the unclaimed property
Letters Testamentary - a document issued by the court clerk which states the authority of the executor of an estate of a person who has died.
Letters of Administration - A formal document issued by a court of probate appointing a manager of the assets and liabilities of the estate of the deceased in certain situations.
Stock - the shares of capitol issued by a company or sector. It represents the original capitol paid into or invested in a business.
Frequently Asked Questions