(Washington, DC) The District of Columbia Office of Finance and Treasury (OFT) today released its list of unclaimed property collected during the past 10 months, which totals more than $25 million in cash and stock. The dollar value owed to individuals and businesses ranges from $0.70 to more than $300,000. Advertisements will appear in The Washington Times on August 18 and in The Washington Post on August 25 to increase the publics awareness of these assets.
One of every 10 people has unclaimed property, said Elliott Kindred, director of the Districts Unclaimed Property Unit. We are working aggressively to reunite them with their assets.
Unclaimed property consists of money and other personal assets that are considered lost or abandoned when an owner cannot be located after a specified time frame, usually three years. Abandoned property includes unpaid wages, certificates of deposit, jewelry, paid life insurance policies, utility deposits, gift certificates, Christmas club accounts, and stocks. OFTs Unclaimed Property Unit receives unclaimed property from banks, insurance companies, utility companies, hospitals, universities, and other entities.
Many companies will charge a finders fee to search for unclaimed property; however, in the District, this service is provided at no cost. To learn more about this free government service, visit Unclaimed Property or call (202) 442-8181.