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Does Massachusetts Owe You Money? It Might

The Massachusetts State Treasury has identified $60 million in unclaimed property that is owed to hundreds of thousands of Massachusetts residents. Are you one of them?

Does Massachusetts Owe You Money? It Might

If you've ever wished for money to (figuratively) fall out of the sky, you may be in luck. 

The state's treasury office has identified more than $60 million in unclaimed property that is owed to hundreds of thousands of individuals, charities and businesses. Just in the last six months, thousands more names have been added to the list of people who are owed more than $100. 

One in ten people in Massachusetts has unclaimed property in their name. Past individuals with claims have included Tom Brady, Steven Tyler, Chelsea Clinton, Governor Deval Patrick, and Senator Scott Brown.

“This new list is just the tip of the iceberg," said Treasurer Steven Grossman. “This is not the state’s money. It belongs to the citizens of the Commonwealth. We want to take every step possible to get unclaimed property back into the hands of its rightful owners.”

Unclaimed property includes forgotten savings and checking accounts, un-cashed checks, insurance policy proceeds, stocks, dividends, and contents of unattended safe deposit boxes. Most accounts are considered unclaimed and turned over to the Treasury for safekeeping after three years with no activity. In addition to the latest $60 million that the Treasury identified over the last six months, the Commonwealth is holding over $2 billion in trust until rightful owners can be identified. 

Over the past four years, the Unclaimed Property Division has returned more than $228 million and more than 3.3 million shares of stock and mutual funds to their rightful owners. 

In an effort to find the individuals owed money, the most up-to-date unclaimed property list was published in the Boston Globe on Sunday, September 9 and will be in the Boston Herald on Sunday, September 16. The list of names will also be published in 37 regional newspapers between Wednesday, September 26 and Friday, September 28.

If you want to check out if you're one of the lucky Massachusetts residents owed money, visit at  www.findmassmoney.com or call 888-344-MASS (6277). There is no time limit to claim property. 

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