Alabama’s Montgomery (WIAT) — More than $1 billion in unclaimed property is held by the state of Alabama, and part of it might be yours.
In the United States, 1 in 7 people have what is known as “unclaimed property,” and Alabama is now holding over $1 billion in unclaimed assets for citizens, according to the state treasurer’s office.
“Financial accounts or items of value in which the owner has not initiated any activity for several years” is how the treasurer described unclaimed property.
When the owner of unclaimed property cannot be found, the state acquires possession of the funds or assets. Payroll, neglected bank accounts, life insurance benefits, and utility company account deposits are a few examples.
On the incident at LeFlore High School, the Mobile County Sheriff speaks.
The state treasurer reports that in 2023, states paid out more than $5 billion to citizens of the United States who had claims.
Reuniting people with their money brings us greater joy than anything else, according to a statement from Boozer. “I like to remind people to check our website, treasury.alabama.gov, every year on their birthday, as funds are turned over to us once a year.
That’s an easy approach to keep in mind, and we might even have some unclaimed property dollars stashed away as a present for you.
These monies are returned to their rightful owners at no cost through Alabama Unclaimed Property, which is managed by the state treasurer. Boozer claims that last year, they gave $50.7 million back to residents of Alabama.