Sen. Bailey announces $15.7M in unclaimed property, is working to contact owners

Posted: February 23, 2021 | Senator Bailey

AUGUSTA – Sen. Donna Bailey, D-Saco, announced the addition of more than $15.7 million to Maine’s Unclaimed Property Fund, and Mainers are being urged to check whether any of that money belongs to them.

“People deserve to get the money that is owed to them through these unclaimed property claims,” said Sen. Bailey. “Please, spread the word to your friends and family, and check yourself if you have any unclaimed property held by the state.”

 “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.

Unclaimed property could be from a forgotten bank account, an overpaid bill or uncollected wages. This money could be unclaimed as a result of a change in name, addresses or bank account. Year after year, people are surprised to find they might have money waiting for them at the Treasurer’s Office. Particularly during these uncertain times, Mainers are strongly encouraged to take a look and see if they are on the list.

People can search the Treasurer’s Unclaimed Property list by going to https://maineunclaimedproperty.gov/. Those who find their name, or the name of a current or past business on the list, can claim the property immediately online, for free. Anyone with questions can call the Treasurer’s office toll free in Maine at 888-283-2808 or locally at (207) 624-7470.

The Office of the Treasurer receives new properties throughout the year. The state Treasury is currently holding more than $275 million of Mainers’ unclaimed property.

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