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Legislative News and Views - Rep. Andrew Carlson (DFL)

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Legislative Update: Is the State Holding Your Money? - January 11, 2017

Wednesday, January 11, 2017

Dear neighbors,

The State of Minnesota may be holding on to some property of yours or a loved one and the State wants to give it back to you. Every day, there are Minnesotans who lose some form of financial property because of a change of address, death, or simply forgetting about an account.

Holders of unclaimed property, usually banks, insurance companies, corporations, etc. are required by law to attempt to contact the owner of the property when it appears that the owner has abandoned the item. This prevents companies from profiting from accounts that remain unclaimed. If the owner fails to respond, Minnesota keeps it safe for them until the rightful owner is found.

Minnesota currently holds about $500 million in unclaimed property. That means that one in twenty Minnesotans have more than $100 dollars owed to them.

Check to see if you have any unclaimed property at the Minnesota Department of Commerce’s missing money page.

Please let me know if you find some unclaimed property that belongs to you! I’d love to hear your story. You can reach my office at (651) 296-4218, or send me an email rep.andrew.carlson@house.mn. If you know someone that may want to get updates like this one tell them to sing up here.

Sincerely,


Andrew Carlson
State Representative