Unclaimed property tops $120M in Idaho

Idaho's unclaimed properties trust has topped $120 million, said Idaho State Treasurer Ron Crane.

"Last year we paid out more than 12,000 claims totaling more than $5.5 million in unclaimed property," Crane said, in a press release. "Our unclaimed property division has consistently been paying out about 50 percent of the properties turned over to us every year."

Unclaimed property consists of money and other assets that are considered lost or abandoned because the owner cannot be located.

Idaho law requires state agencies, banks, insurance companies, publicly traded companies, stores, restaurants, hospitals and local government agencies to turn over money and assets they are unable to return to owners, and there has been no customer contact for five years.

The State of Idaho Treasurer's Office serves as custodian for unclaimed property, which remains available in perpetuity.

Citizens can search the Idaho Unclaimed Property database on the treasurer's website, www.sto.idaho.gov, to see if the state is holding property that belongs to them.

For those who find their names in the database, there is a claim process outlined on the treasurer's website.

Last year, Idaho Unclaimed Property paid out 12,292 claims totaling $5,645,142.30. The Unclaimed Property Division also paid out 8,727 shares of stock and four safety deposit boxes.

"It is our mission to reunite this unclaimed property with the rightful owner," Crane said.

For more information, visit sto.idaho.gov/UnclaimedProperty or call (208) 332-2977.