Stop for a moment and recall the thrill of discovering money tucked away in the pocket of a seasonal jacket or an old pair of jeans. The joy of reclaiming forgotten or misplaced funds is a universal experience that can bring a sense of hope and excitement. And guess what? The possibility of that excitement is within reach because, just recently, the Maine State Treasurer’s Office released its annual list of unclaimed property. Every district in the state is represented on it, offering a potential opportunity for countless Mainers to be reunited with long-forgotten assets. Could you be one of them?
Unclaimed property is money or financial assets considered lost or forgotten and held by the state for safekeeping after a period of inactivity. These lost funds could be from a forgotten bank account, an uncashed check or even the contents of an overlooked safety deposit box. The state acts as custodians of these assets, free of charge, ensuring their safety until the rightful owners come forward to claim them.
Right now, the state is holding over $347 million in unclaimed property, some of which could be yours. It’s easier than you think to find out. Take the first step and visit www.maineunclaimedproperty.gov, a safe and secure database established by the state. It’s a reliable way for residents to investigate whether they have any forgotten assets to claim. No internet access? No problem. During regular business hours, you can call the Treasurer’s Office’s unclaimed property hotline at 624-7470 for further in-person assistance.
Rest assured; several safeguards are in place to guarantee that whoever is attempting to reunite with their financial assets is staking claim to what is actually theirs. When a claim is made, the state follows a rigorous review process that includes asking for identifying documents. This examination ensures that the property will be distributed to the rightful owner. In some cases, the process can be lengthy, but it’s a small hassle for the peace of mind that comes when individuals are reunited with their rightful property.
When it comes to investigating the possibility of unclaimed property, your financial safety is paramount. It is crucial never to pay any amount when reclaiming your property. Those assets, although dormant, are yours, and you will never be charged to be reunited with them. That’s why using only state-sanctioned sources is not just a suggestion, it’s a necessity. Unfortunately, scammers have been known to exploit this process, tricking unsuspecting Mainers into sharing confidential information, which sometimes results in identity theft. While some businesses claim to be able to help individuals reunite with missing assets, it is safest to act with caution and only utilize search sites that end with a “.gov.”
In the event you encounter a scammer, remember that you have the power to protect yourself and others. Report their fraudulent behavior to the Attorney General’s Consumer Protection Division at 1 (800) 436-2131 or to consumer.mediation@maine.gov. Your action could prevent others from falling victim to these scams.
If you have any questions or need assistance in checking for unclaimed property, please feel free to contact me at jim.boyle@legislature.maine.gov or my office, (207) 287-1430. I’m here to help you in this process.
Rep. Jim Boyle, D-Gorham, is serving his second and final term in the Maine House of Representatives after serving two years in the Maine State Senate. He is a member of the Energy, Utilities and Technology Committee.