McCord also highlights more than $150,000 in unclaimed property due to senior care providers and advocacy organizations
Harrisburg – September 4, 2013 – (RealEstateRama) — Greeting cards can say a lot, but a check in the mail can make a difference in the lives of your loved ones, State Treasurer Rob McCord noted today. With Grandparents Day right around the corner, the Treasurer today urged Pennsylvanians to search www.patreasury.gov to find out if their grandparents are owed unclaimed property – with the average claim amount totaling $1,200, it could be a truly meaningful gift.
“If you are looking for a way to show love and support for a cherished grandparent, why not find out if you can reunite them with lost or forgotten money via www.patreasury.gov?” Treasurer McCord said. “We estimate that one in ten Pennsylvanians is owed some of the $2.2 billion in unclaimed property Treasury currently holds, so it’s worth a moment to search the names of your loved ones this Grandparents Day.”
Treasurer McCord said people and organizations owed unclaimed property often do not realize the property has become dormant because holders are not required under state law to contact the owner before remitting it to Treasury. Checks often get mailed to old or incorrect addresses or the funds never make it to the intended recipient for a variety of reasons, the Treasurer noted. Furthermore, the holder of the property may turn over the property to Treasury with misspelled or incomplete owner information.
“A long life can produce a longer financial ‘paper trail,’ so chances are high that our seniors could have funds at Treasury that they are not aware of – and we want to help them claim it,” the Treasurer said.
In honor of Grandparents Day, which is Sunday, September 8, Treasury’s Return Team searched for unclaimed property owed to organizations across the Commonwealth that serve senior citizens. Treasurer McCord highlighted more than $150,000 in unclaimed property Treasury currently holds for senior centers, nursing homes, and other organizations that support older Pennsylvanians.
“I hope senior care providers and support organizations will take a moment to search www.patreasury.gov and find out if we are holding property for them,” Treasurer McCord said. “It is important that these funds get back where they belong – no matter what the amount – so they can be used to provide important services to older Pennsylvanians and their families.”
Each year, Treasury receives millions of dollars in unclaimed property – money from items such as abandoned bank accounts, forgotten stocks, uncashed checks, and contents of safe deposit boxes. Treasury is currently seeking the owners of $2.2 billion in unclaimed property, all of which is searchable via www.patreasury.gov.
Treasury’s Return Team is available toll-free at 1-800-222-2046, Monday through Friday, 7:30 a.m. to 4:30 p.m., to help conduct a thorough search for unclaimed property or citizens can visit www.patreasury.gov at any time to search and claim property. Treasurer McCord reminded Pennsylvanians that it is always free to search and claim property through the Pennsylvania Treasury.
Since January 2009, the McCord Treasury has collected more than $1 billion in property, returned more than $464 million to rightful owners, and generated about $628 million for the state’s General Fund through the Unclaimed Property Program.
To learn more about Pennsylvania’s Unclaimed Property Program or to search for property, visit www.patreasury.gov or call 1-800-222-2046.