Wyoming’s $ 7.4 million payment for unclaimed property sets record – Sheridan Media

Large amount of US dollars – Banknotes – Currency

This story first appeared on Cowboy State Daily

By Jennifer Kocher, Cowboy State Daily

A woman in Sweetwater County was undoubtedly surprised when she learned of the imminent arrival of a check for over $ 582,000.

The windfall was the result of a life insurance policy that had been surrendered to the state in 2020 for which the resident was listed as a beneficiary.

“Our office traced the person and was able to get in touch with her spouse, who then contacted us to make the claim,” Jeff Robertson, administrator of the unclaimed property division of the treasurer’s office, told Cowboy State Daily on Tuesday. of Wyoming. .

The payment is only part of a record amount returned to Wyoming residents by the state treasurer’s office this year.

This year, the state paid a record $ 7.423 million to current and former residents for the fiscal year ending June, surpassing last year’s payout of $ 2.3 million and breaking the previous record. of $ 6.86 million recorded in fiscal 2019.

In the last fiscal year, the state added $ 10.102 million to its unclaimed property fund, the first time more than $ 10 million has been deposited into the fund in a year, according to a statement from the treasurer’s office. of the state of Wyoming.

In addition to the big win in Sweetwater County, a Campbell County resident also scored a big point with a return of $ 305,778. The funds, according to Robertson, stemmed from a claim that began in early 2020 but has since remained dormant. When the claim was reactivated last February, the Unclaimed Property Division worked with the owner to secure mineral royalties dating back to 2015.

Another large sum was returned to a resident of Laramie County for an uncashed check over $ 159,000 related to a claim to property held by the state of Wyoming.

An additional $ 152,934 went to the heirs of a former Johnson County resident after a bank turned over CDs and savings certificates due in 2017 to the state. The state then hired a asset search tool to find recipients.

In addition to these claims, 12 people received checks of $ 100,000 or more and 108 others received checks over $ 10,000, the statement said.

All of the people declined to provide their names for promotional purposes, Robertson said.

Under Wyoming law, when a business, agency, or government entity owes someone money or securities it could not find, it turns those assets over to the state.

The money is placed in a special account for payment to the appropriate person.

Currently, the state still has $ 93 million to claim. Until this property is claimed by the owner, Wyoming law dictates that the state retains it in perpetuity.

Residents can search for any unclaimed property on the state treasury website.

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