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In 2004 companies from all over the country have reported more than $35 million in unclaimed property belonging to Tennesseans.
In 2003 Tennesseans were returned more than $12.7 million.
Who can be owed unclaimed money? Practically everyone! Haven't you forgotten about a savings account, utility deposit, stock dividend, credit card overpayment, or other money held for you somewhere?
Tennessee unclaimed money may comprise funds from abandoned checking or savings accounts, life and casualty insurance proceeds, refunds, court settlements, stock dividends, gift certificates and uncashed wage checks. Real estate is not included. Under the Unclaimed Property Act, accounts are generally considered abandoned and reported to the state after five years of inactivity.
Source: Tennessee Treasury Department Press Release, May 2004.
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