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Wednesday, Feb. 8, 2023

Is Nevada holding $1 billion in unclaimed property that belongs to people and businesses?

Todd Butterworth, The Nevada Independent
yes

As of June 30, 2022, Nevada’s unclaimed property program held more than $1 billion in property belonging to people and businesses. Last year, it returned over $42 million to its rightful owners.

When the program receives unclaimed property from entities unable to deliver it to its rightful owner, the state holds it in perpetuity until it connects with the owner. The most common forms of unclaimed property are uncashed checks, stock accounts, and other "intangible" assets, although "tangible" safe deposit box contents are also held. Unclaimed property does not include vehicles or real estate.

The state Treasurer’s Office works directly with owners to return their missing property. There is no need to work through a company that charges to assist in the process, which is fairly simple for most claims. Last year, 69% of claims were processed online. 

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The Nevada Independent is a nonpartisan, nonprofit news and opinion website founded in 2017 by veteran political journalist and commentator Jon Ralston. The site and its supporting channels are focused on ethical, unbiased and transparent journalism. In general, we aim to gather and disseminate important public information and increase civic engagement. We are supported by corporate donations, memberships, event ticket sales and sponsorships and foundation grants. We disclose all our members and donors. Donors have no influence over our content, ever. The Nevada Independent is the dba for Nevada News Bureau, Inc., a 501(c)3 nonprofit founded in 2010 by Elizabeth Thompson, who now serves as one of The Nevada Independent's managing directors and its Editor.

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