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 Jimmy Patronis Unclaimed Property Auction in West Palm Beach Breaks Record, Nets Over $2.2 Million

9/27/2021

For Immediate Release: Monday, September 27, 2021
Contact: Office of Communications, Communications@MyFloridaCFO.com, 850.413.2842
CFO Jimmy Patronis Unclaimed Property Auction in West Palm Beach Breaks Record, Nets Over $2.2 Million

WEST PALM BEACH, Fla. – Today, Chief Financial Officer (CFO)
Jimmy Patronis announced a record-breaking $2.29 million was generated by the state's unclaimed property auction in West Palm Beach this weekend, surpassing the recent state record set this May in Miami which totaled $2.03 million. Items up for bid at the auction included an 18-carat gold necklace and 19th Century gold pocket watch. Until claimed, unclaimed funds are deposited into Florida's school fund for the benefit of public education. There is no statute of limitations and consumers have the right to claim their unclaimed funds at any time, at no cost.

CFO Jimmy Patronis said, “This weekend, the unclaimed property auction in West Palm Beach was a huge success and set a new state record as we totaled more than $2.2 million in auction proceeds! This is an amazing accomplishment and thank you to everyone who came out to bid on auction items and to my staff for their hard work on behalf of Floridians. Since 2017, we’ve held seven auctions throughout the state generating more than $10.2 million. As your CFO, I’ve returned a total of more than $1.4 billion in unclaimed property and my mission is to return every penny back to its rightful owner. An estimated one in five Floridians has unclaimed funds just waiting to be claimed and I’m encouraging all individuals and business owners to search today for unclaimed property at FLTreasureHunt.gov.”
Unclaimed Property is a financial asset that is unknown or lost, or
has been left inactive, unclaimed or abandoned by its owner. The most common types of unclaimed property are dormant bank accounts, unclaimed insurance proceeds, stocks, dividends, uncashed checks, deposits, credit balances and refunds. Unclaimed property also includes contents from abandoned safe deposit boxes in financial institutions. Unclaimed property assets are held by business or government entities (holders) for a set period of time, usually five years. If the holder is unable to locate, re-establish contact with the owner and return the asset, it is reported and remitted to the Florida Department of Financial Services, Division of Unclaimed Property.
To search for unclaimed property or to claim an account, go online to FLTreasureHunt.gov.
###
 
About CFO Jimmy Patronis
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).