Tennessee returned $40 million in unclaimed property - WRCBtv.com | Chattanooga News, Weather & Sports

Tennessee returned $40 million in unclaimed property

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NASHVILLE (AP) - The state Treasury Department says it returned $40 million of unclaimed property to its rightful owners this past fiscal year.

Unclaimed property in this case does not refer to physical items but to money that has been turned over to the state by businesses and organizations that cannot locate the rightful owners. It includes stocks, bonds, gift certificates, checks, unclaimed wages, refunds and life insurance annuities.

The amount of returned property last fiscal year was a 53 percent increase over the year prior. The Treasury Department attributes the increase to a website that allows visitors to search their names and fill out claims online.

The department currently has $725 million in unclaimed property. Claiming property is free, and there is no time limit.

More information is available at ClaimItTN.gov.

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