“I am excited about the new system, excited about what we are doing with unclaimed properties and really putting the checks and balances, accountability, and technology in place that will help the people of this find their money,” Perdue told MetroNews.
CHARLESTON, W.Va. — As more Americans and West Virginians go without claiming certain properties, West Virginia State Treasurer John Perdue has unveiled an enhanced unclaimed property management system online.
According to his office, people searching for unclaimed property online can upload documents directly to the website and track a claim throughout the entire claim process.
Other new features include mobile compatibility for smartphones and tablets, improved online reporting for unclaimed property holders, and stronger security protections for both holders and claimants, a release said.
“They can go online, track it and track it like a package through the mail. You will be able to track your claim through the process and know when you’re going to get that check in the mail and get your money,” Perdue said.
Unclaimed property is any asset from which an individual or entity has become separated, Perdue said. Examples include items from abandoned safe deposit boxes, uncashed stock dividends, dormant bank accounts, forgotten utility deposits or life insurance proceeds. Unclaimed property does not include real estate.
Businesses and other entities are required to turn unclaimed assets over to the State Treasurer, by law. According to Perdue, West Virginia’s Unclaimed Property program currently holds approximately 2.25 million accounts worth $308 million.
Perdue has returned more than $224 million in unclaimed property during his time as treasurer. He said it remains more important than ever to look for unclaimed property.
“One out of every 10 people in America has an unclaimed property,” Perdue said. “That says something how we misplace things and lose things. Now there is more and more opportunity to get that back and I really believe that is going to change things all over the country.”
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