Safe deposit

Unclaimed property generally consists of money due to an individual from sources like old bank accounts, uncashed payroll checks, tax refunds, credit balances, rebates, returned deposits and dormant safe deposit boxes.

The Arizona Department of Revenue’s Unclaimed Property program has identified approximately $13.7 million that belonged to more than 56,100 people with last known addresses in Gila County, Navajo County and Coconino County.

The agency is sending out notices to the potential property owners and their families to return the funds. Some property dates back more than 30 years.

• In Gila County, the total is $3.4 million from over 10,200 people and a review of unclaimed funds.

• The review of Navajo County confirmed more than $3.3 million belonging to approximately 16,300 individual owners.

• In Coconino County, the department’s unclaimed property team has found nearly $7 million that would go back to more than 29,500 individuals.

Unclaimed property generally consists of money due to an individual from sources like old bank accounts, uncashed payroll checks, tax refunds, credit balances, rebates, returned deposits and dormant safe deposit boxes. Often property becomes unclaimed because the company that holds the funds has an outdated or the wrong forwarding address for its customer and sometimes, a person passes away with no family members aware of the assets.

ADOR returns property to owners who provide documentation showing their right to claim the assets. Claimants must include with their claim form a valid photo ID, such as a driver’s license or other applicable identification, and documentation linking them to the owner’s last known address. Claimants must also provide documentation showing a legal right to claim any property listed in another name.

ADOR’s Unclaimed Property program returned $48.4 million to rightful owners in fiscal year 2019 (July 1, 2018 to June 30, 2019).

For more information on the Unclaimed Property program, including how to make a claim and frequently asked questions, go to www.azdor.gov and click on the Unclaimed Property tab.

Contact the reporter at tmcquerrey@payson.com

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Avoid obscene, hateful, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful.
Be Nice. No name-calling, racism, sexism or any sort of -ism degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article. Real names only!