More Coloradans Claiming Old Money, Valuables
State Holding $500 Million In Unclaimed Property
POSTED: 11:02 am MST November 24, 2009
UPDATED: 11:42 am MST November 24, 2009
DENVER -- The state of Colorado is holding money and valuables for thousands of people and they want to give it back.With the recession, the number of people inquiring about unclaimed property is up more than 30 percent from July to Friday compared with the same period last year, according to the Denver Post newspaper.Here's how it works. If you have lost track of a bank account, stock certificate, or a retirement account; misplaced a rebate check, reimbursement or paycheck from a business; or moved prior to receiving your Colorado state tax rebate, the bank, business or state agency is required by law to file a report and forward those assets to the Unclaimed Property office of the Colorado State Treasurer.
The Colorado State Treasurer currently maintains a list of over 500,000 names of individuals as well as businesses for whom property is available.To see if your name is on the list, just go to the Great Colorado Payback Web site.There is no time limit for you or your heirs to file a claim.Occasionally, items from safe deposit boxes are sold and the money is held for the owner.To see whether you have unclaimed property nationally, go to unclaimed.org, then click the appropriate state. Some companies offer to look for unclaimed property for you for a fee. You don't have to pay for the service, you can look up your name in the database of each state you've lived in. Even this writer received $25 from the state of Texas a few years ago.
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