Found money

Found money,

Definition of Found money:

  1. Found money can be used to describe anything from a wad of discarded dollar bills that one finds in the bottom of a washing machine to an uncollected asset discovered by beneficiaries long after the account holder has passed away. Found money always pertains to money that has gone unthought of until it is once again discovered.

  2. Referring to assets or ownership interest recovered by an individual, which had been misplaced, lost or forgotten. This term can be used to represent anything from money forgotten in a coat pocket to unclaimed tax refunds, forgotten dividends, lost bank accounts, property ownership discoveries, interest owed but not claimed and a number of other situations. Individuals may locate missing or abandoned assets using a specialized service or by performing their own research into past unclaimed ownership.

  3. Found money refers to any amount of money that has been rediscovered after being forgotten about or abandoned by the rightful owner.

Meaning of Found money & Found money Definition