Foreclosed homeowners get unexpected windfalls

March 20, 2011

By David Migoya
The Denver Post

Dozens of former Colorado homeowners who lost their houses to foreclosure have been calling public trustee offices across Colorado to see whether they have any money coming to them.

“We had no idea until we saw it in the newspaper,” said Anthony Michaels of Denver, whose mother, 92-year-old Fayetta Curry, and his younger sister, Sharon Parker, were among a list of individuals due funds from a foreclosure auction.

Read more: Foreclosed homeowners get unexpected windfalls – The Denver Post

Tags: Unclaimed Property, county trustees, unclaimed funds, overbid funds, foreclosed house

Nebraska unclaimed property list published soon

March 14, 2011

LINCOLN — In the coming weeks, Nebraska newspaper readers will be able to scan a list to see whether the State Treasurer’s Office has money for them.

In all, the treasurer’s Unclaimed Property Division is holding property valued at more than $100 million for more than 350,000 Nebraskans or former Nebraskans.

The 2011 list of unclaimed property owners will be published in 16 Nebraska newspapers in March and April. The list includes the names of many Nebraskans and former Nebraskans plus businesses, colleges, professional services and private entities.

The treasurer’s office publishes the list annually. Newspapers in the Kearney area will deliver the publication on the following dates:

Sunday, March 20: Omaha World-Herald

April 1: Holdrege Citizen

April 2: Kearney Hub, Hastings Tribune

April 3: Grand Island Independent, North Platte Telegraph

Readers can scan for their own names and for the names of relatives, businesses and friends.

The publication includes a claim form, or readers can contact the Unclaimed Property Division at 877-572-9688 or go online for more information.

Information from: KearneyHub


Texas Unclaimed Money Not So Easy to Claim?

March 10, 2011

Woman has been trying to claim money on state list for nine years!

NBC Dallas-Ft. Worth article By Ken Kalthoff

A North Texas woman whose name is on the state unclaimed property list says it may not be so easy to claim any of the $2.2 billion that is owed to Texans.

Kelly McCutcheon Canon has been trying since 2002 to get $3,700 that is listed under her maiden name. But the state refuses to acknowledge that she is the correct recipient, she said.

“If I were them and I had one person come forward for that, and it was only one person coming forward for that money, I’d at least look into making sure that that was the right person,” she said.

Read the rest here.


Unclaimed Funds of the Rich and Famous

March 3, 2011

MarketWatch.com Article by Tom Bemis

Thursday, February 10, 2011

From Angelina to Zsa Zsa, Steven Jobs to Sergey Brin, the chairman of the Fed to the CEO of Goldman Sachs, the famous and the rich share a common failing with the rest of us: they’ve misplaced some of their money.

Nationwide the pool of unclaimed property held by states is close to $33 billion and growing.

A MarketWatch review of some of the major unclaimed property sites maintained by the states revealed some surprising names and organizations that have unclaimed property.

Read the rest of the article here.

See the full list of celebrities with unclaimed property here.


A bit about Maryland’s Unclaimed Property

March 3, 2011

State Holds Millions in Unclaimed Property

by Aaron Gilchrist

The state of Maryland is holding on to $900-million, and some of it may belong to you.

The money is in the state comptroller’s Unclaimed Property Unit, where it simply sits and waits.

Read the rest here.


Tracking Down and Collecting Unclaimed Life Insurance

February 27, 2011
Published: February 25, 2011
Hundreds of millions of dollars in life insurance goes unclaimed each year simply because the beneficiaries do not know the money exists.

RI releases unclaimed property list

February 26, 2011

[Editorial note:  The UnProp team is seeking a copy of this R.I. unclaimed property publication.  We would accept either the electronic copy in any format or the printed version.  Please contact us if you have a copy.  Thanks!]

R.I. total claims worth $9.7 million

Courtesy of Mary Abraham at WPRI

PROVIDENCE, R.I. (WPRI) – Rhode Islanders are in for a nice surprise, as the state releases its annual unclaimed property list early.

The General Treasurer’s office has released the list of 21,000 names, with claims worth $9.7 million.

General Treasurer Gina Raimondo says she urges all Rhode Islanders to look for their names in the printed copy as well as the online database for archived claims.

Every year, the state releases the list of millions of dollars in unclaimed property. It include: inactive financial accounts, old payroll checks, the contents of various safe deposit boxes, and proceeds from life insurance policies, utility deposits, stocks and dividends, overpayments and several other financial properties.

Rhode Island is currently holding an estimated $146 million in unclaimed property dating back to the 1950’s.


Dirty Truth about New York’s Unclaimed Property

February 24, 2011

New York has the unenviable reputation of having the fastest rising pile of unclaimed money out of all the states in the country. The unclaimed property list continues to grow at an alarming rate in New York. Almost $25 million inactive bank, business, and government accounts all contribute towards this million dollar unclaimed property amount. While the state treasury is taking all the relevant steps to locate the owners of unclaimed funds, the success rate has still not reached a satisfactory level.

In some cases, owners are coming forward to claim their lost funds but the absence of adequate documentation makes it impossible for the state to release the funds. The launching of a new unclaimed property website couple with joint exercises with NAUPA has yielded better results, but the volume of unclaimed funds is increasing in size with every passing day.

New York State Comptroller’s Office of Unclaimed Funds (OUF) is also collaborating with the state treasury to return the unclaimed funds to its actual owners. This aggressive reclaim awareness program has shown very successful results and has been received very enthusiastically by the citizens of New York. A boost in the number of claims across the state has also been witnessed by the aggressive program. The outreach program effectively conveys the message across the state of New York by participating in a variety of public events. The New York State Comptroller’s Web Site can be accessed at www.osc.state.ny.us.

In the middle of all these constructive efforts to reunite the owners of the unclaimed funds with their rightful money, there are some notices of government apathy. Many of the citizens of New York are concerned that the state is doling our money to welfare programs run by the state without informing the citizens to whom this money belongs. A lot of voices in the state have displayed their concern over this and this has been rightly conveyed to the decision makers. Many of the New York citizens feel that the use of unclaimed property towards state run programs is solely done for political reasons.

New York is one of the most employable and ethnically diverse states in the country, not to mention about its cosmopolitan culture, which translates into a large number of migrant workers. The workforce migrations are also very regular and make a great impact on the volume of unaccounted funds and financial accounts. The state of New York also publishes an “Abandoned Property Supplement” of the New York State Register, which contains a list of abandoned property. This supplement is published by New York State Department of State, 162 Washington Avenue, Albany, NY 12231.

This is not to undermine the efforts of New York as one of the most successful states as far as reuniting the owners with their lost money is concerned. The outreach program of the state, along with the National Association of Unclaimed Property Administrators (NAUPA), has created a good impact and the awareness levels regarding the unclaimed property has increased substantially in the last couple of years. With unclaimed funds sprinting rapidly towards the $15 billion mark, the state authorities are leaving no stone unturned in locating the owners of these lost funds.

Article by Nicole Anderson: Republished with permission.


Common sense solution to unclaimed property woes

February 24, 2011

[Editorial: I applaud Kansas for thinking outside the box] 

New State Treasurer Ron Estes finally may have figured out a way to implement a longtime no-brainer solution for what probably is his office’s most public function – connecting unclaimed property with its rightful owners.
For years, the State Treasurer’s Office has spent untold resources to promote its unclaimed property program. It runs ads, maintains a website and takes its road show around, giving people who stumble upon it an opportunity to see if the contents of some abandoned and long-forgotten bank safety deposit box is a treasure just waiting to be claimed. It is a regular drill at the Kansas State Fair in Hutchinson, for one.
One would have thought that instead of using all that energy trying to get people to come to the State Treasurer’s Office, surely there must be a way instead to go find the people.
Estes may have solved the riddle. He is promoting a bill pending in the Kansas Legislature that would allow his office to access tax information that would help locate owners of unclaimed property.
Estes says that 36 percent of the unclaimed property in the state’s possession has the owner’s Social Security number attached to it, and the bill would allow the State Treasurer’s Office to match that number to income tax filings and get a current address. Voila!

Why the state has never done this before is a mystery of the government bureaucracy.

One concern is privacy, and this bill has been structured to limit the treasurer’s office from access to other taxpayer information. But this concern, in this case, is overblown. Who do they think is going to whistle privacy foul if the state treasurer’s office sends them a letter – or, imagine this, gives them a phone call – to tell them they’ve got riches?

Chances are, if someone owes the government money, these barriers aren’t so impenetrable.

Surely there are other ways to track people down, too. If the government used a little more common sense, there wouldn’t be a need for so much public outreach to distribute unclaimed property.

Estes deserves credit for having some common sense. Pass the bill.

By John D. Montgomery/Hutchinson News Editorial Board

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January 29, 2011

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