Last Modified: Monday, November 26, 2012 8:38 PM
Check out the legal advertising in today’s American Press to see if you have money coming to you in this year’s Louisiana unclaimed property list.
State Treasurer John Kennedy said the treasury has $518 million that needs to get to its rightful owners. In fact, one in six residents has unclaimed property — and the average refund is $300-$400.
“Louisianians have much better odds finding unclaimed money listed with the state than they would of winning money playing the lottery,” he said in an email. “I encourage everyone to check the listings at www.LATreasury.com for your name, and the names of your family members, friends and neighbors, too.”
According to Kennedy, unclaimed property is money held by businesses and other entities. When it goes unclaimed, it has to be turned over to the state. Common sources of unclaimed property include savings and checking accounts; uncashed payroll checks; certificates of deposit, stocks and dividends; insurance proceeds; oil and gas royalty payments and utility deposits.
“When a business cannot locate an individual the unclaimed property belongs to, usually because of a wrong address, the money is turned over to the state for safekeeping,” Kennedy said. “The Unclaimed Property Program had a record-breaking year, collecting $73 million in unclaimed money and reuniting $27 million with the rightful owners,” he said.
Since 1972, the unclaimed property program has returned nearly $270 million to more than 200,000 Louisiana residents.
To search the Louisiana unclaimed property listings and submit a claim online, visit www.LATreasury.com or call 1-888-925-4127 weekdays between 8 a.m. and 4:30 p.m.