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Floyd County

September 5, 2010

Millions in unclaimed property await locals

Attorney General encourages Hoosiers to search state database

> SOUTHERN INDIANA — There is $3.5 million in unclaimed property in Clark County and $2.3 million in Floyd County, according to Indiana Attorney General records.

Attorney General Greg Zoeller stopped at Jeffersonville City Hall last week to remind Indiana residents how to search for their unclaimed property. He said Hoosiers in every county around the state have money they have forgotten about or never knew existed.

“It is my duty to inform Hoosiers how to find and claim it and I’m encouraging people to not be shy — search for yourself and your friends and family. This money belongs to someone,” Zoeller said in a statement. “The state’s unclaimed property fund has more than $350 million waiting to be claimed by the rightful owners and we want to make sure they get it back.”

Anyone can visit to search for unclaimed property belonging to themselves or others. Businesses and charities may also have unclaimed property.

The money may belong to residents, former residents or heirs.

Each year, financial institutions and other holders are required to turn over the assets of accounts that have been inactive for several years, depending on the type of account. This includes investment earnings, insurance proceeds and benefits, wages and money from savings and checking accounts. It does not include abandoned vehicles or real estate. Physical items make up less than 1 percent of unclaimed property in the state.

The state database holds more than $350 million in assets. More than 55,000 properties worth $42.2 million were returned.

In 2009, 4,132 properties valued at about $467,576 were added to the database in Clark County and 2,816 properties valued at $345,439 in Floyd County. The state holds assets for 25 years after they are reported.

The unclaimed property database can be searched on the website 24-hours a day, seven days a week. The Unclaimed Property Division’s toll-free number is 1-866-IN-CLAIM.

A list of unclaimed property turned over to the state in the previous year will be published Sept. 12 in The Evening News and The Tribune.

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