Utah State Treasurer David Damschen announced that the State of Utah’s Unclaimed Property Division currently safeguards nearly $1 million in lost or abandoned property from residents and businesses with last known addresses in Sevier County.
Along with all states across the nation, Utah adopted the Uniform Unclaimed Property Act (1956) – ensuring abandoned or lost property of its citizens is turned over to State government – not kept by companies, employers, service providers and others. Examples of such property included uncashed payroll checks, dormant bank accounts, overpaid bills, security deposit boxes and more. Companies with unclaimed properties are required to transfer them each year to state governments.
“We urge every resident and business in Sevier County to check and see if they are the rightful owner of any of this nearly $1 million,” said Utah State Treasurer David Damschen. “Perhaps you moved and forgot you had a utility deposit or overpaid at the eye doctor five years ago. Either way checking to see if you’ve lost property is simple, easy and something everyone should do for themselves, their families and friends.”
“State Treasurer Damschen came to Richfield and is working hard to get this money back into the rightful pockets of Sevier County residents,” added State Senator Ralph Okerlund, who resides in Monroe. “But you must do your part and call or checkmycash.utah.gov and see if you have unclaimed property – and begin the simple, streamlined claims process to get it back.”
The 2015 launch of the simplified mycash.utah.govwebsite and updated marketing campaign fueled a 107 percent increase in Utah’s paid claims volume. The new website makes it easier for residents to search for – and collect – money that might be theirs. In 2015 alone, a record $22.5 million was paid out to owners or descendants of owners who filed claims.
“Currently over 2,000 residents and businesses tied to our area have lost property and the average amount awaiting reclaim is $441,” said State Representative Kay L. McIff. “Each year new money is turned over, so not only should you check today – but every year.”
Utah’s Unclaimed Property Division currently safeguards a total of $370 million in unclaimed property from throughout Utah, with many states across the nation holding higher totals. Lost or abandoned property submitted through 2015 is searchable online at mycash.utah.govor by calling 801-715-3300.
“We’re working together to get the word out and encourage everyone to check for their friends and families,” added Richfield Mayor David Ogden. “We’d love to see every area resident and business help us get this funding back where it belongs – right here at home in Sevier County.”