He says he’s trying to ‘match’ unclaimed property with the rightful owners.
Annapolis, Md (KM) Coming to your local newspaper: a list of unclaimed property held by the State of Maryland.
Comptroller Peter Franchot says an insert will be placed in more than 30 newspapers around the state over the next few days which has a list of individuals with unclaimed property. It could be abandoned bank accounts or safe deposit boxes; forgotten insurance policies or lost wages, where an employer mailed a former employee a final paycheck, but it was returned as undeliverable. “It’s going list 80,000 Marylanders alphabetically that we owe $64-million to and we’re holding their money for them and we want them to communicate with us,” he said.
Under Maryland law, banks,insurance companies and other entities which have money owed to another individual, and they cannot find that person, must turn over that cash to the state. Comptroller’s Office officials will list that person’s name in hopes he or she will come forward and claim the money.
Since 2007, the Comptroller’s Office says it has returned more than $775-million in unclaimed property to its rightful owners. In fiscal year 2019, the Comptroller’s Office says it processed nearly 44,000 claims totaling more than $71-million.
When the list of names is published, Franchot encourages Marylanders to look it over. They may see their own names. “If they do,and they are who they are–they’re not impersonating someone–we will get a check promptly to them for the unclaimed property,” he says.
If a person on the list is deceased, Franchot says the money can go to an heir. “We don’t list the amounts on the publication. We just list the name and the address. But if that person is deceased and you are a lawful heir of that person, have at it. We’re holding money for you,” he says.
Residents who don’t get a newspaper can check the Comptroller’s Office website and click on the link to unclaimed property.
As part of the effort this year to promote the unclaimed property list, Comptroller Franchot will be using a pop culture image. This year he’s borrowing from “The Bachelor” TV show. He will be calling himself the “Matchelor” He will be wearing a tuxedo with a rose held out in the 160-page insert “We’re trying to match Marylanders with their lost money,” he says. “Like the Bachelor did it on romance, I’m doing it on lost money reunification.”
By Kevin McManus