Virginia Holds More Than A Billion In Unclaimed Property

More than $1 billion worth of property is waiting to be claimed in Virginia.

Typically, unclaimed property includes items from abandoned safety deposit boxes and money from bank accounts, stocks, dividends, insurance claims, utility deposits or paychecks.

The Virginia Department of Treasury is the custodian of property that isn’t claimed. Department spokesman Benjamin Jarvela tells The Virginian-Pilot that the treasury paid out about $45 million in claims and took possession of more than $136 million in the previous fiscal year.

Jarvela says the average claim was around $1,978.

Virginia Treasurer Manju Ganeriwala says almost all of the unclaimed financial property is deposited into a fund that can only be spent on K-12 education.

Ganeriwala says unclaimed property can be claimed no matter how much time has passed.

You can find out if you have unclaimed property at http://vamoneysearch.org/

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s