Abandoned PropertyAbandoned property is one to which the owner has relinquished all rights including reasonable expectation of privacy. It is property left behind (often by a tenant) intentionally and permanently when it appears that the former owner (or tenant) does not intend to come back, pick it up, or use it.Generally, abandoned property becomes the property of person who finds it and takes possession of it first. Examples of abandoned property are possessions left in a house after the tenant has moved out, or autos left beside a road for a long period of time and or patent rights of an inventor who does not apply for a patent and allows others to use his/herinvention without protest. However, an easement and other land rights are not abandoned property just because of non-use.Abandoned property laws govern the requirements that must be followed to dispose of unclaimed property. Please view your state laws for the requirements in your state. Laws are provided for Self Storage facilities and general abandoned property law.Unclaimed Property LawUnclaimed property is generally defined as a liability a company owes to an individual or entity when a debt or obligation remains outstanding after a specified period of time. An uncashed payroll or dividend check is a common type of unclaimed property. Most unclaimed property becomes abandoned as a result of a change of address (the owner moved), a name change (the owner got married or divorced), or death of the owner (the estate was unaware of the money or the heirs could not be located). Every state has unclaimed property laws which declare money, property, and other assets to be abandoned after a period of three to five years of inactivity. Click link for specific: Self Storage Laws by StateDisclaimer:This article is a guideline and is not legal advice - No information here iswarrantedorguaranteedfor any purpose., as laws vary from state to state, it is not intended to be an all inclusive discussion of the law applicable to any action in your state. Please consult with a legal professional when appropriate - if you are charged with a crime, contact a criminal defense attorney.[video=]