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Missouri breaks record for returning unclaimed property

By Maria Hickey, KWMU

St. Louis, MO – The state of Missouri broke its record for returning unclaimed property during the fiscal year that just ended last month.

In all, $21.8 million in assets were returned during the fiscal year, according to the state treasurer's policy director Mark Hughes. He says the most money the state ever returned to one individual was $750,000 from a forgotten stock.

Currently, Treasurer Sarah Steelman's office has about $400 million in abandoned assets, which includes stocks, bonds, and items left in safety deposit boxes.

Hughes says no matter how long the state seeks an owner, the money will never become state property: "That money is held in the name of the account owner and whenever we are able to locate that account owner or their lawful heirs, the property will be transferred to them, whether it's a month or 100 years."

Owners of unclaimed property can check the state's website by clicking here. Newspapers also run the listings periodically.


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