More than $200,000 in Unclaimed Property Returned in Beaufort County
Monday, June 19th, 2017
Treasurer Curtis Loftis and Beaufort County Treasurer, Maria Walls, came together to host an Unclaimed Funds Event at the Bluffton Public Library.
During the event, the citizens of Beaufort County found more than $200,000 in unclaimed money.
“Through the hard work of my and Treasurer Loftis’ staff, Beaufort County’s residents were able to reclaim their funds. Because of our partnership for this event, people’s lives were changed, an air conditioning unit can now be repaired and a home mortgage will be paid off. We are looking forward to working with Treasurer Loftis and his staff in the future,” said Maria Walls, CPA, Beaufort County Treasurer.
The State Treasurer’s Office currently has over $550 million in unclaimed property across the state.
“I want to thank Treasurer Walls for partnering with us to locate the owners of unclaimed funds,” said Treasurer Loftis. “Many South Carolinians just don’t realize they could have money waiting for them. One of the best parts of my job is finding their money, and putting it back in their hands.”
If you missed the event, you can search for unclaimed property on the State Treasurer’s website by clicking here. If you’ve lived in another state, you may also want to check MissingMoney.com for a list of property held in over 39 states.
Below are some common questions and answers regarding the Unclaimed Property Program at the State Treasurer's Office:
How do I find out if I have unclaimed property?
Go to the official website: www.treasurer.sc.gov and click on “Unclaimed Property” or click here.
What is unclaimed property?
Unclaimed property refers to accounts in financial institutions and companies that have had no activity generated or contact with the owner for a period of time. Common forms of unclaimed property include savings or checking accounts, stocks, uncashed dividends or payroll checks, refunds, traveler's checks, trust distributions, insurance payments or refunds and life insurance policies, annuities, certificates of deposit, customer overpayments and utility security deposits.
How does unclaimed property end up at the State Treasurer’s Office?
If a company cannot locate the owner of funds after a certain period of time (usually five years), the company cannot keep the money. Acting in the best interest of consumers, every state has a law that requires unclaimed funds to be sent to the State’s Unclaimed Property Program, where the funds are held until the rightful owner can be found. There is no time limit on how long the State holds the money. The rightful owner always has the right to claim the funds.
What if the original owner is deceased?
The Personal Representative for the estate can make a claim on the property by providing a copy of the death certificate, a currently dated Certificate of Appointment from the Probate Court, as well as proof of ownership of the property.
Is there any charge or fee for this program?
No. There is no fee for this service whether or not property is found under your name. If you are contacted by an individual or firm offering to return property to you for a fee, contact the South Carolina Unclaimed Property Program Offices BEFORE YOU SIGN AN AGREEMENT.
How much money was returned to its rightful owners last year by the Treasurer's Office?
$23.2 million was returned.