Unclaimed property Division returns large amounts in September

CHARLESTON – West Virginia State Treasurer John Perdue’s Unclaimed Property Division paid out $1.45 million in September claims, with field representative generating 69 percent of that total, or approximately $1 million.

Field representative conduct outreach by tracking down property owners through in-house records, courthouse files and checking other documents. Often times, they handle more complicated claims which include additional paperwork.

“I’m proud of the work our field staff and unclaimed property specialists do,” Treasurer Perdue said. “They are in their communities, actively engaged with folks and trying to return their long-lost assets to them.”

Electronic claims, or e-claims, made up the next-highest dollar amount for September, at $151,000. Electronic claims are tailored to single-owner assets. The owner sets up an online account through wvtreasury.com and submits a driver’s license and one other form of government identification.

E-claims are ideal in straightforward claims, in which heirs and estates play no part. They are typically a smaller amounts; the average e-claim for the month was approximately $250.

In addition to staff generated outreach and e-claims, people and businesses may also submit paper claims and phone claims individually, by find their names online or through a printed newspaper insert.

Unclaimed property is any asset from which an individual has become separated. Examples include abandoned safe deposit boxes, stock dividends left uncashed and a final paycheck left behind. By law, holders of such assets are required to turn them over to the Treasury, where office and field staff attempt to reunite the money with rightful owners. Unclaimed property is not real estate.

Go to www.wvtreasury.com to file an e-claim or call 1-800-642-8687 for additional information.

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