1 in 20 Minnesota residents have unclaimed propertyST. PAUL — The state estimates that about one in 20 Minnesotans has at least $100 in unclaimed property.
By: Associated Press, INFORUM
ST. PAUL — The state estimates that about one in 20 Minnesotans has at least $100 in unclaimed property.
The Department of Commerce says that this year alone 7,200 state residents have reclaimed $19 million in missing money from bank accounts, life insurance policies, safe deposit boxes and other assets.
Commerce officials say nearly $264 million worth of property has been returned to Minnesotans since the unclaimed property program began in 1969.
Minnesota is among states that are linked to the website MissingMoney.com. KMSP-TV reports that search functions on the site have been improved to reduce the time it takes to return unclaimed property.
The state says that as of March, more than $500 million worth of property remains unclaimed.
Copyright 2012 The Associated Press.