News articles abound concerning unclaimed funds and assets.
States have billions of dollars and some may belong to you.
Consequently, the information in these articles may give you an opportunity to claim lost funds.
Unclaimed funds are money and other assets whose rightful owner cannot be located.
Unclaimed funds are money and other assets whose rightful owner cannot be located. Unclaimed funds are typically turned over to the government after a specific period of time has passed. To claim the funds or assets, the designated owner or beneficiary must file a claim; if belonging to an estate, it may require the claimant to prove their rights to the unclaimed property or funds.
Local Counties, Cities, Towns Leaving Unclaimed Money on the Table
CAPITAL REGION (WRGB) — Many local cities, towns and counties are hurting for money these days, so why aren’t they collecting easy money?
Every year thousands of New Yorkers find money in their name on the NYS Comptroller’s unclaimed funds website. But we found many local governments are not always cashing in on the unclaimed cash.
The city of Schenectady is listed multiple times on the unclaimed funds website – we asked Mayor Gary McCarthy about that and he said while he wasn’t aware of the current listings, the city does check the site at some point every year. He says they have cashed in on funds in the past.
States Have Billions in Unclaimed Funds and Some of It May Be Yours
Billions of dollars worth of unclaimed funds sit in Columbus, Frankfort, Indianapolis, and other state capitals and you might be the rightful owner of some of it.
Akil Hardy, who leads the Ohio Division of Unclaimed Funds, says banks and businesses have dumped a whopping $279 million into the fund this fiscal year after striking out trying to find the rightful owners. Of that, only $54 million has been claimed despite the pandemic causing a need for many.
“We thought we would see a lot more claims come through our door,” Hardy said. “It just sits there until the rightful owners come to claim the money.”