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Unclaimed Property Awaits the Return of Rightful Owners

Friday, August 17, 2001

Unclaimed Property Awaits the Return of Rightful Owners

In the last six months, the District government has received 3,536 unclaimed assets with a total value of more than $2.1 million.

(WASHINGTON, DC) The District of Columbia Office of Finance and Treasury (OFT) today released its updated list of unclaimed property. In the last six months, the District government has received 3,536 unclaimed assets with a total value of more than $2.1 million. Advertisements to increase awareness of these assets appeared in The Washington Times on Aug. 17, and will appear in The Washington Post on Aug. 22.

The District has an extensive and ongoing effort to reunite residents with their lost or forgotten assets. In addition to regular advertisements, OFT conducts mailings to owners' last known addresses and participates in community events, such as ANC meetings, where officials use their portable database to let participants know if they have unclaimed property. Residents can search the unclaimed property database, print an inquiry form and learn how to reclaim assets by visiting the Unclaimed Property website.

"It is never too late to claim your money," explains Deputy Chief Financial Officer for Finance and Treasury N. Anthony Calhoun. Claims can be made at any time, since unclaimed property is kept until the rightful owner or heir can be found.

Unclaimed property consists of money and other personal assets that are considered lost or abandoned when an owner cannot be located after a specified period time. This includes checking accounts, certificates of deposits, paid-up life insurance policies, unpaid wages, un-cashed checks, dividends, insurance payments, money orders, refunds, savings accounts, and stocks. OFT receives unclaimed property from banks, insurance companies, utility companies, hospitals, universities, and other entities.

OFT's Unclaimed Property Unit, which serves as custodian for unclaimed or abandoned property, can be reached at (202) 442-8181.