For the first time in Utah history, Utah State Treasurer David Damschen announced the county-by-county values of properties safeguarded by the Utah Division of Unclaimed Property.
The Division currently holds over $375 million in funds and properties awaiting reclaim from rightful owners or their descendants. Seventy-five percent of these properties were reported to the state with outdated or incomplete last known addresses.
“This is one of my favorite jobs as state treasurer, because it’s a bit like playing Santa Claus,” said Utah State Treasurer Damschen. “If you could use a little extra cash this holiday season, check mycash.utah.gov to see if any of the over $375 million in unclaimed property is yours and claim it today. Maybe you moved and forgot you had a utility deposit or didn’t leave a forwarding address on an old account. Checking to see if you’ve lost property is simple, easy and something everyone should do for themselves, their families and friends – especially this time of year.”
Along with 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 for safekeeping and reclaim – not kept permanently by companies, employers, service providers and others. Examples of such property include uncashed payroll checks, dormant bank accounts, overpaid bills, and security deposit box contents.
Lost or abandoned property turned over to the state is searchable online atmycash.utah.govor by calling801-715-3300. The 2015 launch of the simplifiedmycash.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.
“We’ve partnered with Treasurer Damschen to help get this money back into the pockets of its rightful owners or their descendants here in Provo,” said Provo Mayor John Curtis. “We encourage everyone to not only check mycash.utah.gov, but forward our social media posts and spread the word. The claims process is simple and Utah County’s average claim amount is nearly $400 – a very nice holiday bonus.”
“All that stands between you and money you’ve lost is a simple online search or phone call,” added Unclaimed Property Division Administrator Dennis Johnston. “The average amount awaiting reclaim is over $400, which would cover a lot of holiday expenses. So get online, call and start your claims process today.”