PARKERSBURG, W.Va. — State Treasurer Riley Moore said that in May, his office’s Unclaimed Property Division gave back more than $3.5 million in lost property to people, businesses, and groups.
In May, the Unclaimed Property Division gave back $3,533,710. The Office has given out claims worth almost $25.5 million since the start of the fiscal year in July of last year.
“We’re thrilled to keep returning funds at the fastest rate in state history,” Moore said. As of May, we had the fifth-highest number of returns since the program began in 1967. April had been the third-highest month for returns. We’re proud to finally get these lost funds back to the people who deserve them.
The Office said that even though it is returning funds at a record rate, it is still getting a steady flow of new unclaimed property from users daily. The State Treasurer’s Office has a database with almost $438 million worth of lost property.
Treasurer Moore said, “Just because you didn’t have anything listed a few months ago doesn’t mean there isn’t something for you now because holders are always giving our office new listings.”
Financial accounts or valuable things that haven’t been used by their owner in at least one year can be considered unclaimed property. Life insurance payments that haven’t been paid, forgotten bank accounts, and rebate cards that haven’t been used are some examples. Even though “property” is in the title, it does not mean “real estate.”
Source: WTAP
