Manitobans’ unclaimed property sitting as report calls for new legislation

Manitoba law courts. (file image)

WINNIPEG — Manitobans are one step closer to getting reunited with their property after a new report calls on the government to make legislative changes.

The Manitoba Law Reform Commission is recommending the province enact new unclaimed property legislation, making it easier to reunite Manitobans with their lost or unclaimed assets like credit balances or pension plans.

Unlike other Canadian jurisdictions, there is no process for property owners to claim those assets in Manitoba. Nor is there any obligation for people who are holding the property to remit or report those assets to the provincial government.

The Manitoba Law Reform Commission, an independent organization that makes law reform recommendations to the provincial Minister of Justice and Attorney General, said in a report the province should enact stand-alone unclaimed property legislation and create a public online searchable database of unclaimed property.

It also recommends limiting the scope of the legislation to intangible personal property where no one is contesting the claim.

The commission said if the recommendations are implemented, those unclaimed assets would be taken from the hands of others and put into the hands of their rightful owners in an efficient and accessible manner.