Rep. Arthur Mingo (R-Calais)
Did you know that Maine is holding over $364 million in unclaimed property?
Unclaimed property is money and other financial assets that are considered lost or abandoned when an owner cannot be located after a specified period of time of inactivity. This can be bank accounts, uncashed checks, life insurance policies, unpaid wages, stock and dividends, refunds, and safe deposit box contents.
Every year, millions of dollars in unclaimed assets are turned over to the state because businesses and other entities cannot locate property owners.
Maine has an unclaimed property law to protect people’s property rights and try to reunite owners with their rightful assets. It also relieves holders of the expense and liability of holding onto the property. The Maine State Treasurer’s Office provides a centralized search location for citizens to search for unclaimed property at no cost.
Many people have money being held by the State of Maine that they are unaware of. This includes people who scrutinize all their accounts and transactions regularly.
The first step to see if you have any of your money is being held is to search the State Treasurer’s database at: www.maineunclaimedproperty.gov . You can search under your name or others and even file a claim online. Some claims may involve additional documentation, but the site contains instructions on how to do that.
I have been amazed at the number of people who tried this and received unexpected funds through a fairly uncomplicated process.
Please feel free to contact me on issues of concern to you. In the meantime check this out. If you have questions or difficulty with this or any other state matters, please feel to contact me at Arthur.mingo@legislature.maine.gov .
I appreciate the opportunity to represent you in the legislature.
Thank you,
Rep. Arthur Mingo (R-Calais)