A long-forgotten safe deposit box is discovered and unlocked, revealing a priceless heirloom or handfuls of rare coins. Sound far-fetched? Not really. Today, Florida’s Chief Financial Officer (CFO) Jimmy Patronis reported more than $27 million in unclaimed property was returned to Floridians in October. More than $1.1 billion has been returned to Floridians in unclaimed property since Patronis took office three years ago.
Were all the unclaimed items valuable and mysterious? Probably not, but some were and Patronis encourages all Floridians to take a few minutes, search FLTreasureHunt.gov, and determine if they have any unclaimed property in Florida.
Patronis said, “With the holidays coming up, now is the perfect time to see if you have any cash available in unclaimed property. It has been a difficult year for most and this is the perfect opportunity to close out the year with good news. My mission as Florida’s CFO is to return every last cent back to its rightful owners, and I am committed to ensuring that happens.”
According to Patronis, unclaimed property is a financial asset that is unknown or lost, or has been left inactive, unclaimed or abandoned by its owner. The most common types of unclaimed property are dormant bank accounts, unclaimed insurance proceeds, stocks, dividends, uncashed checks, deposits, credit balances and refunds. Unclaimed property also includes contents from abandoned safe deposit boxes in financial institutions. These assets are held by business or government entities for a set period of time, usually five years. If the holder is unable to locate, re-establish contact with the owner and return the asset, it is reported and remitted to the Florida Department of Financial Services, Division of Unclaimed Property.
To search for unclaimed property or to claim an account, go online to FLTreasureHunt.gov.