West Virginia State Treasurer John Perdue presented a record-breaking $1.7 million unclaimed property check to an individual today at his West Virginia State Capitol office in Charleston.
Thomas Hunter, a former West Virginia resident, accepted an unclaimed property check in the amount of $1,780,824.57. The unclaimed money comes from a trust set up by his parents which included liquidated stocks and dividends from various communications and energy companies.
“This is an exciting day. I can’t express how pleased I am to find the rightful owner of this money and return it,” said Treasurer Perdue. “While this amount returned today is a record, it is just one example of the work we do to reunite individuals with their unclaimed money, regardless of the amount.”
This is the largest check returned to an individual or estate from West Virginia’s Unclaimed Property Division.
“I am grateful this day is finally here. I want to thank Treasurer Perdue and his staff for walking me through this process,” Hunter said. “They worked with me every step of the way and went above and beyond to make this a reality.”
Unclaimed property staff at the State Treasurer’s Office worked for months with Mr. Hunter to help him with the claim. After finalizing his family’s estate, he was able to submit the proper paperwork for the payout.
“What receiving this settlement check means for me and my family is that I will be able to retire from my first career earlier than expected and perhaps pursue a second career as a small business owner,” Hunter said.
He added that he is considering several options, including donating a portion of his unclaimed funds to charities that were important to his parents.
Unclaimed property is any asset from which an individual or entity has become separated. Examples include items from abandoned safe deposit boxes, uncashed stock dividends, dormant bank accounts, forgotten utility deposits or life insurance proceeds. Unclaimed property does not include real estate.
By law, businesses and other entities are required to turn unclaimed assets over to the State Treasurer.
West Virginia’s Unclaimed Property program currently holds approximately 2.2 million accounts worth $304 million. During his time as State Treasurer, Perdue has returned more than $216 million in unclaimed property to rightful owners.
For more information on West Virginia’s Unclaimed Property program, to check for unclaimed property or to file an e-Claim, go to www.wvtreasury.com or call 1-800-642.8687.