TALLAHASSEE, Fla. – (RealEstateRama) — Chief Financial Officer Jimmy Patronis today announced that the Florida Division of Unclaimed Property returned an astonishing $313 million during the 2016-2017 fiscal year, the highest annual return figure in the program’s 56-year history. More than 513,000 individual claims were paid throughout the 2016-2017 fiscal year, a double-digit increase over the previous fiscal year. One in five Floridians has an unclaimed account in their name, and all are encouraged to regularly search for accounts on the Division’s website.
“I am impressed with the incredible accomplishments of the unclaimed property program, and I look forward to its continued success in the future,” said CFO Patronis. “It’s easier than it might seem to lose track of an account, and I want all Floridians to know that we’re working to return their hard-earned funds back to them.”
Nearly five million claims have been paid since the program’s inception in 1961, and the Division receives additional accounts from reporting companies every day. By law, most businesses are required to turn over dormant or abandoned accounts to the Division after a specified time period of no communication with the account holder.
The most common types of unclaimed property are: dormant accounts from financial institutions, insurance and utility companies, securities and trust holdings. In addition to money and securities, unclaimed property includes tangible property such as watches, jewelry, coins, currency, stamps, historical items and other miscellaneous articles from abandoned safe deposit boxes.
To search for unclaimed property or to claim an account, call 1-88-VALUABLE (888) 258-2253 or go online to www.FLTreasureHunt.org.
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Contact: Ashley Carr