State governments are under severe financial pressure.  In the last few years, many of them have stepped up their efforts to collect unclaimed property held by private entities such as medical practices.  Every state has an “escheat” or unclaimed property statute that places the burden on those holding such property to deliver it to the treasury or commerce department if the owner cannot be found. Escheatment is the general rule that abandoned or unclaimed property (of all kinds) becomes the property of the state.Several questions about our clients’ escheat policies and procedures have come up recently, suggesting that it is time for all to review their compliance with the applicable laws.  This subject is governed by state statutes that vary in their requirements regarding attempts to notify the owner of the property, e.g., the patient; time limits for delivering the property to the authorities, and other financial procedures.  Forty-two states (including...