$789M in unclaimed property waiting to be returned in Tennessee - WMC Action News 5 - Memphis, Tennessee

$789M in unclaimed property waiting to be returned in Tennessee

NASHVILLE, TN (WMC) -

Each year it's a typical sight. The state works to find the rightful owners of unclaimed property that has been turned over to the state by businesses and organizations who are unable to find the rightful owners.

Despite returning over $34 million dollars worth of unclaimed property last year, with an average claim amount of $817 each for the 41,827 claims returned, there is still much more left unclaimed.

That's a 28 percent increase over the prior year.

According to the Tennessee Treasury Department, there is currently $789.2 million in unclaimed property still waiting to be returned.

The unclaimed funds consist of a variety of things from stocks, bonds, gift certificates, checks, unclaimed wages, refunds from utility or other companies, life insurance annuities and more. 

However, the Unclaimed Property Division does not include real estate or physical items.

There is no time limit in Tennessee to claim unclaimed property. It's held for the rightful owner or their legal beneficiaries until it is claimed.

"We have put an emphasis on improving the efficiency of the Unclaimed Property program, which has allowed us to reunite even more people with their unclaimed funds over the last fiscal year," State Treasurer David H. Lillard, Jr. said. "We're proud to offer this service to the people."

To file a claim through the website, you can click here.

For those not wishing to use the website, you can call the Unclaimed Property Division at 615-741-6499.

Copyright 2017 WMC Action News 5. All rights reserved.

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