main menu page title feature menus content footer
My Florida C F O

CFO's Initiatives

Stay Connected

Follow the
Department of
Financial Services








 

Sign up for the CFO's
weekly newsletter!

Press Release

News   RSS RSS   Press Office   Archive

CFO Alex Sink's Unclaimed Property Auction Nets Over $1.1 Million for State School Fund

8/26/2010

CONTACT: Jerri Franz or Jayme O’Rourke, 850-413-2842
 
TALLAHASSEE – Florida CFO Alex Sink’s Bureau of Unclaimed Property netted over $1.1 million for the second consecutive year at the annual unclaimed property auction held Saturday, August 21 in Orlando. CFO Sink’s push in leading up to the auction to drive Floridians to check for unclaimed property at www.FLTreasureHunt.org also helped Floridians to claim a staggering $28.3 million from over 35,000 accounts in just 13 days.
 
“Florida is second only to California in the amount of unclaimed property returned to its citizens and I commend my Bureau of Unclaimed Property for their dedication to reuniting Floridians with their cash or family valuables,” said CFO Sink. “This event is a win for everyone involved, with the more than $1 million in proceeds from the auction benefitting Florida’s Public School Trust Fund, the awareness of the auction reuniting Floridians with thousands of accounts and auction participants leaving with incredible treasures.”
 
Saturday’s Unclaimed Property Auction featured approximately 40,000 items, contents of unclaimed safe deposit boxes, with a reserve price of more than $600,000. After multiple attempts to find the owners of this property, the items were auctioned off, but the rightful owners are still able to claim the amount the item is sold for in cash. There is no statute of limitations, and citizens have the right to claim their property at any time and at no cost, by visiting the website at www.FLTreasureHunt.org.
 
In the past year alone, CFO Sink’s Florida Bureau of Unclaimed Property has reunited citizens with more than $188 million, the largest amount in state history. During Alex Sink’s tenure as CFO, the Bureau of Unclaimed Property has seen record returns, reuniting owners, heirs and businesses with more than one-third of all money returned since the beginning of the program, due largely to aggressive efforts to contact owners.  Since the program’s inception 48 years ago, the Bureau of Unclaimed Property has successfully reunited owners or relatives of deceased owners with more than $1.6 billion in unclaimed property held in Florida.
 
The Bureau of Unclaimed Property is currently holding nine million accounts, mostly from dormant accounts in financial institutions, unclaimed utility deposits, insurance benefits, premium refunds, uncashed checks and trust accounts.  It also holds watches, jewelry, coins, stamps and historical items from abandoned safe deposit boxes. Unclaimed property can be claimed for free at any time by the rightful owners or heirs by logging on to www.FLTreasureHunt.org or by calling the Bureau at 1-88-VALUABLE.
# # #