Florida’s Unclaimed Property is at $1 Billion.
Florida is currently promoting giving away $1 billion. Is this for real?
Are you one that seeks lost treasure? Ever comb the beaches for lost money? In Florida there are people looking for and finding lost treasure.
Florida’s Chief Financial Officer Tom Gallagher, who oversees the Department of Financial Services’ Bureau of Unclaimed Property department, has returned nearly $300 million, since 2003, in cash and property to current or former Floridians.
The bureau is currently holding accounts valued at more than $1 billion, and the owners or heirs can claim it for free by logging on to www.fltreasurehunt.org or by calling 1-88-VALUABLE (1-888-258-2253.)
News reports as well as the many newspaper articles written over the years has been helpful with informing Floridians about the Bureau of Unclaimed Property. Cash Unclaimed Money Search is another way to find unclaimed assets. This search is not limited to Florida. The company has done research and put together a database that includes all the states as well as federal information for a comprehensive search of unclaimed property.
Wondering where this unclaimed property comes from? Most comes from dormant accounts in financial institutions, deposits paid to utility companies, insurance premium refunds, uncashed payroll checks and trust holdings. In addition to cash and securities, Florida’s holdings include property such as watches, jewelry, coins, stamps and historical items that are delivered from abandoned safe deposit boxes.
Unclaimed cash held by the state is deposited into the State School Trust Fund until it is claimed by the rightful owner. Unclaimed items from abandoned safe deposit boxes are auctioned annually, and the proceeds always remain available for the owners to collect.
