AUGUSTA, Maine (WABI) – According to the Office of the State Treasurer, Maine is currently holding more than $395 million in unclaimed property.
In the month of December alone, 1,900 claims paid for $2,176,869.98, according to the Treasurer’s office.
The highest single payment in December was for $120,542.
“It’s quite a treat when you get something unexpected, especially if it’s a big check,” said Maine State Treasurer, Joseph Perry.
Some examples of unclaimed property include checking or savings accounts, uncashed checks, gift certificates and cards, and safe deposit contents.
I got a look inside the office in Augusta where the property is stored.
Perry and his office are dedicated to reuniting owners with their rightful assets.
“The amazing part is, a staff of about five people return about 73% of everything we collect in a given year back to the owners. What doesn’t get returned goes into the General Fund where we hold it forever,” Perry explained.
Many people may not be aware that the state is holding onto their money.
“Years ago, I got unclaimed property from an insurance policy I once owned that demutualized. It was $1,200. I had no idea! I didn’t even have the policy anymore, so I had no idea I had $1,200 coming to me. It could be anything,” he said.
Perry says the average claim is between $600-700.
Some claims could be worth millions.
“In the past year we had a family trust which one of the heirs I guess forgot about – $7.5 million,” Perry said.
The State Treasurer’s Office holds assets free of charge until they are claimed by the owner or heir. All you have to do is visit maineunclaimedproperty.gov and search your name.
Once you file a claim, expect the processing time to be about eight weeks.
“If you get a letter from the State Treasurer saying you have unclaimed property, please call us. Please contact us, we want to get it back to you.”
Governor Mills has declared February 2nd through the 8th Maine Unclaimed Property Week.
If you have any questions about unclaimed property you contact the State Treasurer’s Office at (207) 624-7470 or toll-free in Maine at 888-283-2808.
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