The Florida Unclaimed Property Office says there could be money sitting with your name on it and you may not even know it.
Florida’s Chief Financial Office holds in its possession over two billion dollars of unclaimed property. Over $600,000 of that is in valuables left behind in safe deposit boxes, such as coins and high priced jewelry. The rest of it is in the form of dormant accounts in banks, securities, and trust holdings.
This property and holdings are turned over to the Florida division of unclaimed property. That office is then required to hold onto the property for at least 2 years. After which, the public can bid on these unclaimed items. This office holds a property auction twice a year.
Chief Financial Officer Jimmy Patronis states, “Our vault is limited in size so again, we have to do an unclaimed property auction twice a year, where it’s easier to store zeros in the state bank account”.
That auction is to be held at the DoubleTree Hotel at Orlando Airport on Saturday morning (August 31st.) at 9 am. There will be NO online bidding.
Most of the state’s unclaimed property is actually in the form of cash, from utility deposits, or an unknown trust. So there is a very real chance you could be owed money.
Since over 100 million dollars is actually owed to Floridians, your chances of being owed money is actually better than 1 in 5 people. So, even if you can’t make it to the property auction in Orlando this weekend, at least take a minute to check the link below to see if your name is on the list.
To check for your name click HERE.
Posted by Marc Charles for Money Talk Radio via Rich Fields at Q105
Sources: ABC Action News