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Unclaimed Property Awaits the Return of Rightful Owners

Thursday, February 21, 2002

Unclaimed Property Awaits the Return of Rightful Owners

(Washington, DC) The DC Office of Finance and Treasury recently released its updated list of unclaimed property. During the past six months, the District government received unclaimed assets totaling more than $9.5 million for 9,749 individuals. Advertisements will appear in The Washington Post on February 21 and in The Washington Times on February 28 to increase the public's awareness of personal assets they may claim.

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 checking accounts, certificates of deposit, paid-up life insurance policies, unpaid wages, uncashed checks, dividends, insurance payments, money orders, refunds, savings accounts, and stocks. The Office of Finance and Treasury receives unclaimed property from banks, insurance companies, utility companies, hospitals, universities, and other entities.

In addition to semi-annual advertisements, the District has information on unclaimed assets available on its website. Residents can search the unclaimed property database, print an inquiry form, and learn how to reclaim assets. Claims can be made at any time, since unclaimed property is kept until the rightful owner or heir can be found.

The Unclaimed Property Unit of the Office of Finance and Treasury serves as custodian for unclaimed or abandoned property. The Unclaimed Property Unit can be reached at (202) 442-8181.