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State reminds residents of $852 million in unclaimed property

Posted at 7:55 AM, Mar 08, 2019
and last updated 2019-03-08 09:19:24-05

The State Treasurer’s Office says $852 million in unclaimed property is currently being held by the state. That property includes payroll check, stocks, insurance proceeds, and other money.

The office says over $35 million belongs to residents in the Acadiana area.

Matching their database with the department of revenue’s, the state treasurer’s office says they’ve been able to make claiming property faster and easier for residents.

Since 1972, the office says that over 800,000 people have collected over $489 million in unclaimed property.

That unclaimed property is simply cash. The Treasurer’s office says these funds can come from deposits on utilities, life insurance policies, or even royalties.

The largest claim in the state’s history was $2.3 million, but Schroder says they regularly write checks for $100,000 to people across the state.

The average claim in Louisiana is about $900, but most are under $100.

The law, according to Treasurer Schroder, is clear that the money will forever belong to the holder. “The money does not belong to the state and we shouldn’t be spending it.”

Louisiana residents can check for any unclaimed property on the State Treasurer’s website or call toll-free 1-888-925-4127.