City receives check for unclaimed property from State Treasurer
Published 8:14 am Wednesday, December 11, 2024
- Ivan Sanders/Star Correspondent Tennessee State Treasurer David Lillard visited Elizabethton on Tuesday to present the city with a check for unclaimed property totaling $4,837.78. Pictured (from left) are City Manager Daniel Estes, Finance Director Preston Cobb, Councilman Richard Barker, Mayor William E. Carter, and Treasurer David Lillard.
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STAR CORRESPONDENT
State of Tennessee Treasurer David Lillard, along with Chief of Staff Roy West and Reese Davis from the Department of Treasury, stopped by Elizabethton City Hall on Tuesday afternoon to present a check for $4,837.78 to the city for unclaimed property.
According to the Tennessee Department of Treasury website, 1 in 10 Americans has unclaimed property waiting to be claimed. Each year, the Tennessee Treasury collects millions of dollars in unclaimed property and works to return those funds to their rightful owners through outreach efforts and its website.
In 2022, the department returned 50,337 claims, and according to Lillard, there was a total of $62 million in unclaimed property in 2023.
Unclaimed property can come from various sources. If banks, credit unions, utility companies, governments, or other organizations owe money and cannot locate the recipient, the funds may become unclaimed property.
Common forms of unclaimed property include:
- Savings or checking accounts
- Stocks
- Uncashed dividends or payroll checks
- Refunds
- Traveler’s checks
- Trust distributions
- Unredeemed money orders or gift certificates (in some states)
- Contents of safe deposit boxes
Lillard recommended that citizens visit the website ClaimItTN.gov to check if they have unclaimed property and file a claim to receive it.
