Each spring, people clean out their houses and garages, getting rid of unwanted property.

Friday, June 02, 2000

Each spring, people clean out their houses and garages, getting rid of unwanted property.

It is stuff nobody wants.

However, there is unclaimed property that everybody wants: money and other valuables.

More than 300,000 individuals and businesses have unclaimed property waiting for them at the Minnesota Department of Commerce.

More than 23,000 Minnesotans have been identified as owners of this year’s unclaimed property – valued at more than $22 million.

Beginning this week, the Commerce Department is publishing the names of the individuals. Greater Minnesota counties will have to wait until June 19 to see published lists in their newspapers. The complete list is available on the department’s Web site at http://www.commerce.state.mn.us.

The possibilities are endless.

Abandoned checking and savings accounts, uncashed payroll checks and stocks and bonds.

Among the $22 million in unclaimed funds is 850 safe deposit boxes and 3,500 holdings.

The value of all unclaimed funds in the state is $120 million.

Last year $6 million was returned to owners.

In the 30 years (1969-99) that unclaimed property was returned to owners, the total is $87 million.

According to the Commerce Department, the odds of claiming unclaimed property are one-in-20 or better than winning the Minnesota State Lottery.

This is the kind of list you wouldn’t mind being on.