State Treasurer Riley Moore today announced his Office’s Unclaimed Property Division returned more than $2 million worth of unclaimed property to individuals, businesses and organizations during the month of October.
“We had a strong month of returns driven by more people checking our database and filing claims,” Treasurer Moore said. “We continue to encourage people to visit our website – www.WVUnclaimedProperty.gov – to see if our Office is holding any money for you.”
The Unclaimed Property Division paid out $2,069,522 through 2,634 claims during the month. Since the fiscal year began July 1, the Office has paid out nearly $8.9 million in unclaimed property claims – already ahead of the pace at this point for last fiscal year, which set a record of $26.8 million returned during that fiscal year.
“While we continue to pay out claims at a record pace, we’re also receiving new listings at a record pace as well,” Treasurer Moore said. “Because of improvements in our unclaimed property laws, as well as our improved outreach efforts with potential holders, we now have more than $400 million worth of unclaimed property in our database – that’s why it’s important for everyone to keep checking our website to see if we’re holding anything for you.”
More information about the unclaimed property program is available at www.WVUnclaimedProperty.gov.
What is Unclaimed Property?
Unclaimed property can include financial accounts or items of value in which the owner has not initiated any activity for one year or longer. Common examples include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. (While the title includes the word “property,” it does not however include real estate.)
West Virginia’s unclaimed property laws protect the public by ensuring money and property owed to them is returned to them, rather than remaining permanently with financial institutions, business associations, governments and other entities. The Treasurer seeks to reunite the unclaimed property, including uncashed paychecks, stocks, or safe deposit box contents, with its owner.
Nationwide, nearly 33 million people in the United States – one in every 10 – are estimated to have unclaimed property available for them to claim.
How Can I Find Unclaimed Property in My Name?
West Virginians searching for lost financial assets can go to www.WVUnclaimedProperty.gov. In addition to finding property, the website will also help you track a claim.
A demonstration of how to use the Unclaimed Property search site is available on the Treasury’s YouTube page, at: https://youtu.be/K09yQ7YNKlE.
To search for lost financial assets outside West Virginia, visit www.MissingMoney.com.