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Colorado Treasurer Mark Hillman wants to unite 50,000 people with more 40 million dollars worth lost or forgotten property and money.
It’s called the Great Colorado Payback. The money and property is unclaimed and held by the state. It’s been turned over to Colorado by financial institutions, insurance companies and other businesses. It had to be idle for at least five years, to be handed over to Colorado, according to Hillman.
“This is by far the largest list of new unclaimed property owners the program has ever received,” said Hillman.
In total there is more than 300 million dollars worth of cash and property unclaimed in Colorado. The State Treasurer’s office holds that money indefinitely. Property left in safe deposit boxes is held for five years, then it is sold on Ebay. The profit from that sale is held in an account for the rightful owner, according to Hillman.
“Most of the claims will probably be above 25 dollars, in the 100 to 1,000 dollar range,” said Hillman.
He says everyone should go to www.greatcopayback.com or call 1-800-825-2111, to find out if their property or money is being held.