For the first time, the Unclaimed State Property Division is actively seeking owners.
Colorado’s statewide Lost Property Program has amassed more than $ 1 billion in unclaimed money since its inception in 1987.
Lately the program has tried something new: it is proactively trying to find the owners of this money. In some cases, people even receive unexpected checks in the mail.
“Our initiative is to return as much property as possible – whether it’s Coloradian, whether it’s out of state, our goal is to return as much of that money as possible,” said Bianca Gardelli, director of the division. unclaimed state property.
Since August, nearly 200 people have received unsolicited checks as part of a pilot program. The state treasurer’s office uses online research platforms to identify and verify people’s current addresses. So far, about 63% of recipients have cashed the checks, which can be up to $ 100.
The state has also sent tens of thousands of postcards since last year as part of a new program that informs people they may have unclaimed property with the state.
The owner search effort was recommended as part of a program check, who found that the division had a large backlog of unresolved claims, among other issues. This audit was published several months after the election of Treasurer Dave Young.
Proactive programs are expected to continue, Gardelli said, and the state could potentially send unsolicited checks of up to $ 500 if it can identify the owners. In addition, state law will allow people to make claims under $ 1,000 without obtaining notarized documents.
Money can show up in the Unclaimed Property program in several ways: for example, someone may forget a bank account or not cash a check from a government agency.
To check if the program has something for you, visit the state unclaimed property website. It’s free. This journalist once recovered a bank account he lost as a child thanks to New Jersey found objects.
The unclaimed property division also has a lost property safe, which includes boxes of gold teeth, cremated remains, jewelry, journals and, among other things, an earthen box.
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