Frye, Lyness: Unclaimed Property May Be Waiting For You

Thursday, September 3, 2020 at 9:42 AM

By Indiana House Republicans, news release

With more than $565 million in unclaimed property available, Hoosiers are being urged to visit

(Indianapolis, Ind.) - With more than $565 million in unclaimed property available, State Reps. Randy Frye (R-Greensburg) and Randy Lyness (R-West Harrison) said Hoosiers should visit today to see if money is waiting for them.

According to Office of the Indiana Attorney General, unclaimed property can come from any financial asset with no activity by its owner for an extended period of time like unclaimed wages or commissions, savings and checking accounts, stock dividends, insurance proceeds, underlying shares, customer deposits or overpayments, certificates of deposit, credit balances, refunds, money orders and safe deposit box contents. Frye said it does not include abandoned vehicles, real estate or stolen property.

"There are thousands of properties waiting for people to claim," Frye said. "That includes property worth more than $100. Through Indiana Unclaimed, Hoosiers can quickly check their name and see if there is money they can get rightfully returned back to them."

Hoosiers can visit or call 866-IN-CLAIM to see if they have money waiting to be claimed. Lyness encourages Hoosiers to check their names along with the names of family members and friends.

"It takes only a few minutes to complete a claim and then the money should arrive in roughly 90 days," Lyness said. "With so much unclaimed property, it cannot hurt to look now and see if you or someone you know has funds waiting to be claimed. There could be some unexpected cash with your name on it."

The organization holding the potential unclaimed property makes every effort to contact the owner and establish activity through an online login, written correspondence, a withdrawal or deposit, or an update to personal information. If these attempts do not produce activity, the asset is reported to the state of the owner’s last known address.

Lyness said more than $35 million has been returned to Hoosiers so far this year.

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