$12.1 million added to Unclaimed Property Fund, needs to be claimed by owners
AUGUSTA — Sen. Heather Sanborn, D-Portland, today announced the addition of more than $12 million to Maine’s Unclaimed Property Fund, $381,706 of which is believed to belong to her constituents, and Mainers are being urged to check whether any of that cash belongs to them.
“Unclaimed property” is money owed to Maine people by third parties, such as former employers, banks or utility companies. Organizations are required to give unclaimed property to the State Treasurer after a specified period of time, after which the owner of the unclaimed property can retrieve it from the state.
“Finding money you didn’t know you had is a bonus,” said Sen. Sanborn. “You may find a little or a large bonus by searching your name on the Treasurer’s website.”
Even if you have done everything right, you could have unclaimed property. It could be from a forgotten account, an overpaid bill, or uncollected wages. This money could be unclaimed as a result of a change in name, addresses, or bank account.
You can search the Treasurer’s Unclaimed Property list here: https://maineunclaimedproperty.gov/. If you find your name, or the name of your current or past businesses on the list, you can claim the property immediately online — for free.
You can also search your friends and family and let them know about unclaimed properties that may belong to them. To find out if you are owed money in other states, http://www.missingmoney.com/ serves as a National Database.
The Office of the Treasurer receives new properties throughout the year. Be sure to check back as often as you can!