Florida Returns $55M in Unclaimed Property to Residents in November

The Florida Department of Financial Services reported returning over $55 million in unclaimed funds to Floridians in November through its Treasure Hunt program. This initiative allows residents to reclaim forgotten or unknown assets including old bank accounts, insurance proceeds, stocks, dividends, abandoned safe deposit boxes, uncashed checks, deposits, credit balances, and refunds. The state currently holds more than $2 billion in unclaimed property, highlighting the significant volume of dormant assets held on behalf of residents. The Treasure Hunt program, launched in 2017 and accessible via FLTreasureHunt.gov, provides a free and user-friendly platform for Floridians to search for their unclaimed property by entering their names or those of family members. Claims require proof of ownership, and the state has up to 90 days to verify and process each claim. This process ensures compliance with regulatory requirements for handling abandoned or forgotten property. Unclaimed property in Florida comes from a variety of sources, including financial institutions, utility companies, and insurance providers. These assets are held by businesses or government agencies for a statutory dormancy period, usually around five years, before being transferred to the state’s school fund if unclaimed. Importantly, there is no statute of limitations on claiming these assets, allowing Floridians to recover property regardless of how much time has passed. Additionally, tangible items such as jewelry, coins, currency, stamps, and historical artifacts from abandoned safe deposit boxes may also be claimed through this program. The state schedules auctions for some unclaimed items and hosts educational workshops to inform the public about available resources and the process. Florida’s regulatory framework ensures that unclaimed property is safeguarded for rightful owners while supporting public education funding through unclaimed assets that remain after dormancy periods. The program's transparency and accessibility serve as a model for compliance with state laws governing escheatment and abandoned property. Residents are advised to utilize official state resources directly, as third-party services may charge fees for activities that are available for free through state platforms. Claims can also be made by next of kin for deceased individuals upon providing certified documentation, expanding the scope of rightful ownership claims. This ongoing initiative underscores the importance of digital tools in insurance and financial service sectors to manage dormant accounts and facilitate consumer recovery of assets, reinforcing trust and regulatory adherence in the handling of unclaimed property.