The state's treasurer gave nearly $50,000 in unclaimed property back to Missourians at this month's state fair, but barely put a dent in what's left. Theo Keith has more from Jefferson City.
Wrap: It's a big lost and found box, according to Missouri state Treasurer Clint Zweifel.
|Description: "We add it all up and you're looking at $500 million of assets."|
That's how much money the state holds in unclaimed property.
Banks turn over assets like safe deposit boxes to the state if they don't hear from owners for five years.
And there they stay. Unclaimed.
Until the owners contact the state saying they want their property back.
|Description: "We're responsible to return those assets the entire time we hold on to those assets. It's not like those assets go away after five years or seven years."|
And that's why the state's lost and found box is so big.
From the State Capitol, I'm Theo Keith, Newsradio 1120 KMOX.----- [DO NOT TYPE BEYOND THIS LINE] -----
|Intro:||Missouri returned a record 75,000 accounts of unclaimed property last year, and the state treasurer says it's thanks to the economy. Theo Keith has more from Jefferson City.|
Wrap: It's only five percent of the half-billion dollars the state still holds.
But last year, the state returned a record $26 million in unclaimed property to its rightful owners.
Missouri state Treasurer Clint Zweifel says the reason is simple.
Missourians want their money during these tough times.
|Description: "The faster that we can get those assets back to them, the faster they can use 'em to make ends meet for their family and to put money back into the economy."|
Zweifel says claiming property is easier now because of a new Web site that allows people to search for their assets.
He says that's the best way to track your items down.
From the State Capitol, Theo Keith, Newsradio 1120 KMOX.----- [DO NOT TYPE BEYOND THIS LINE] -----
|Intro:||A Princess Diana doll was part of a half-billion dollars in unclaimed property the state now holds. Theo Keith has more from Jefferson City.|
Wrap: Sometimes it's not worth a lot, but it means a lot.
Missouri state Treasurer Clint Zweifel says the state has held all sorts of unclaimed items, waiting for Missourians to take them back.
|Description: "We've had some pretty great stories. I mean, there was a Princess Diana doll that was in there, and there's lots of stories about family heirlooms, whether it be jewelry... that, you know, may not have a huge financial value, but there's sentimental value associated with it."|
Add it all up, and it comes to a half-billion dollars.
It comes from banks and small businesses that turn over money from accounts if they lose contact with the owner for five years.
From the State Capitol, I'm Theo Keith, Newsradio 1120 KMOX.
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