Currently, the Florida Unclaimed Property Division holds over $2.2 Billion. In the Year of 2009, the State of Florida collected $298,135,491 in unclaimed property. However, in the same year, Florida’s Unclaimed Property division returned $173,971,190 to the legal owners of unclaimed property. The Department of Financial Services, Bureau of Unclaimed Property, holds 8 million unclaimed accounts valued at more than $2.2 billion. At present, there are almost 8 million accounts in Florida’s Unclaimed Property database.
Generally these unclaimed funds come from dormant accounts in financial institutions, insurance companies as well as utility companies, securities and trust holdings. Unclaimed property contains tangible property, such as watches, ornaments, coins, money, stamps, historical items and other assorted articles from deserted safe deposit boxes. Unclaimed money goes into the custody of the state school fund, where it is used for public education. There is, though, no law of limitations, and people have the right to claim their property any time at no cost.
How to Claim Unclaimed Property
You can perform an online search for locating unclaimed property that already has been sent to the state for custody. In addition, the property that is about to be sent to the State by a business as required by law can also be searched. You can perform a search for unclaimed property online through Florida Department of Financial Services. This search could be performed at the following basis:
- Business name
- Individual’s name
- Companies name
As soon as you accommodate all the fields with the required information and hit the search button, you will be provided with Name of the Owner, Address, City, ID number and Type of property. Note down the ID number as it would be required while claiming for the property.
How to Get a Claim Form
If the search performed through online database provided by the Florida Bureau of Unclaimed Property is successful, you would be provided with the ID of the unclaimed property. Clicking on the ID Number would lead you to the “Property Details Screen”. You can get the claim form against the ID number.
Instructions for Filling out Claim Form
Follow the filling instructions strictly for getting the claim processed in an accurate and timely manner. In case if the Florida Department of Financial Services refuses the claim to the evidence provided, the concerning department will either contact the person at the address provided by him or her or the documents will be returned. The returned documents would be accompanied with a letter stating why the claim package is incomplete. The processing and payment of your claim would be delayed unless and until you provide all the details required for verifying if you are the rightful owner.
Where to Send Complete Claim Form
After completing the Claim Form and attaching with it all the mandatory documents according to the instructions mentioned above, you are required to sign it and send this form via traditional mailing system at the following address:
Florida Department of Financial Services
Bureau of Unclaimed Property
Attn.: Compliance Section
P. O. Box 1990
Tallahassee, FL 32302-1990
For further information regarding unclaimed property, you can also send a Fax to: (850)413-3018, or call at 1-888-258-2253 (toll free within Florida) or (850)413-5555 (outside of Florida)