Detroit

Michigan's Treasure Trove, State Holds $2 Billion in Unclaimed Property Awaiting Rightful Owners

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Published on February 15, 2024
Michigan's Treasure Trove, State Holds $2 Billion in Unclaimed Property Awaiting Rightful OwnersSource: San906, CC0, via Wikimedia Commons

You may be spot on - to the tune of $2 billion in unclaimed property, including cold hard cash, that's just gathering dust in the state's coffers waiting for its rightful claimants to step up, as reported by FOX 2 Detroit.

It's not just about forgotten bank accounts or checks left uncashed, the stash includes everything from jewelry to baseball cards and one never knows what treasures might lie in their name or how much it might fatten their wallet, Terry Stanton from the Michigan Department of Treasury told FOX 2 Detroit that their job is to reunite these lost fortunes with their owners, an effort that saw them return a record $138.5 million last year.

The reclaiming process is a no-brainer: survivors seeking to reclaim their long-lost assets can simply commence a treasure hunt at unclaimedproperty.michigan.gov, as per instructions detailed by Bridge Michigan. Searches might hit pay dirt with claims on anything from undisclosed dividends to insurance proceeds.

If you're feeling lucky, documentation and a swift online claim could see checks en route to your bank account, with the state even honoring claims on accounts gathering cobwebs for decades, says Stanton, signaling that it's never too late to get what's yours, they even auction off unclaimed items, so best beat the clock before your grandma's gold necklace turns into a check.