LA resident gets $2.3 million in unclaimed property from Treasury
LOUISIANA (KSLA) - A North Louisiana resident got $2.3 million in unclaimed oil royalties from a deceased relative as part of The Louisiana Department of the Treasury's Unclaimed Property Program.
Its the largest amounts of money ever returned to a single person, according to State Treasurer John M. Schroder.
"This definitely was a special case, because most of our claims fall somewhere in the $900 range," said Treasurer Schroder. "Even if you don't find millions, it's worth your time to see if there is money out there waiting for you."
The Treasury also collects old bank accounts, insurance proceeds, utility deposits and other funds from businesses when they cannot locate the rightful owners. This usually occurs because of incorrect or new addresses.
This year the Treasury has collected $83.8 million and has returned $28.7 million to 38,398 individuals.
The state has $858 million in unclaimed property on the books left to be claimed by citizens.
"More people than ever are claiming their money, and this is partly due to our new online system and fast-tracking of claims," said Treasurer Schroder. "We've already processed almost 12,000 more claims than last year."
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