Key Points: Arizona holds nearly $2.8 billion in unclaimed property State agency gives insufficient notice to property owners Arizona law requires only 120 days’ notice before seizing unclaimed property Arizonans could soon get better notice if the state is holding on to their share of nearly $2.8 billion in unclaimed property. […]
COLUMBUS, Ohio— Ohio has become more aggressive than any other state in seizing privately owned unclaimed funds, even as many states are moving to automatically return money to their owners, an analysis has found. Under a controversial new Ohio law currently being challenged in court, the state of Ohio is taking ownership of $1 […]
Ohio residents say they’re waiting months longer than expected for unclaimed funds as the state reports nearly 41,000 pending claims. But lately, his sea of orange and brown has been tinged with a touch of gray as he’s been left waiting nine months for his unclaimed funds case to be processed by the state. […]
LAUREL SPRINGS, N.J. (WPVI) — A South Jersey family says their 7-year-old son’s savings account inexplicably vanished, leaving them scrambling for answers until the money ultimately resurfaced in New Jersey’s unclaimed property system. Sarah Dimarco said she has been stuck in what she called “paperwork purgatory” after discovering her son Finn’s account balance had […]
A criminal hurts you. A judge orders him to pay you restitution. The criminal actually pays. The government gets the money. And you still don’t. Welcome to America’s unclaimed restitution system. I spend a lot of time investigating money that belongs to ordinary Americans but somehow winds up in government hands. California auditors […]
California state Controller Steve Westly on unclaimed property held at the state: it's regrettable that lawmakers don't give the controller's office more resources to return escheated funds to their rightful owners. He continued, "If you were sitting on an extra $4.8 billion in other people's money, would you be in a hurry to give it back?" ("Escheated funds may be yours" by David Lazarus for The San Francisco Chronicle, December 17, 2006)