MAINE, USA — The state of Maine is holding more than $292 million in unclaimed property, according to Maine State Treasurer Henry Beck.
"That's for people in the state, businesses, and nonprofits," Beck told NEWS CENTER Maine. "It's always been a huge focus of ours to find the rightful owners."
The unclaimed property isn't items such as jewelry or real estate but actually money and other financial assets. Beck said this includes uncashed checks, life insurance policies, bank accounts, unpaid wages, stocks and dividends, and refunds. The treasury department makes exceptions for safe deposit box contents.
"As life goes on, as people lose track of things, what happens is the property becomes dominant for some reason, and we presume it to be abandoned," Beck said. "The entity that holds the property is required to reach out to you, and if they can't find you or you don't respond, they send it to us."
Beck said his office holds onto the unclaimed property for free until claimed by the owner or heir. He said there is no limit on the time Mainers have to claim their property and even if someone has done this before, it's worth checking again because new properties are added all the time.
You can check the state website to see if you have any unclaimed property.