TAMPA, Fla. — More than $27 million worth of unclaimed property was given back to Floridians in May. That's according to an announcement Thursday from the state's chief financial officer, Jimmy Patronis.
Since taking office in 2017, Patronis says he has been prioritizing the return of unclaimed property to its rightful owners. This fiscal year, the CFO says Florida has returned more than $326 million in unclaimed property.
"Unclaimed Property is a financial asset that is unknown or lost, or has been left inactive, unclaimed or abandoned by its owner," his office explained in a news release. "The most common types of unclaimed property are dormant bank accounts, unclaimed insurance proceeds, stocks, dividends, uncashed checks, deposits, credit balances and refunds."
Such property would also include anything abandoned in safe deposit boxes at banks.
"Unclaimed property assets are held by business or government entities (holders) for a set period of time, usually five years," Patronis' office said. "If the holder is unable to locate, re-establish contact with the owner and return the asset, it is reported and remitted to the Florida Department of Financial Services, Division of Unclaimed Property."
A whopping $6 million of the assets returned to Floridians in May was given back in the Tampa/St. Pete region alone. The area that had the most unclaimed property was Miami, where $8.8 million worth was returned last month.
“As your CFO, I’ve made it my mission to return every last cent of unclaimed property back to its rightful owners..." Patronis wrote in a statement. "There’s a good chance that we’re currently holding unclaimed funds for you or a loved one, as an estimated one in five Floridians has money just waiting to be claimed."
If you'd like to search for unclaimed property or claim an account, click here.
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