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More Names Added To Mass. Unclaimed Property Rolls

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BOSTON (AP) — The Massachusetts treasurer’s office says more than 51,000 names have been added to the state’s list of unclaimed property owners in the past six months.

The latest additions exceed $75 million and bring to more than $2.4 billion the total amount of unclaimed property being held by the state.

Treasurer Steven Grossman says the latest list includes about $40 million owed to beneficiaries of insurance policies that were uncovered in an audit of life insurance companies that was initiated by his office.

Unclaimed property can also include forgotten savings and checking accounts, stocks, dividends and contents of safe deposit boxes.

Accounts are generally considered abandoned and turned over to the state treasury if there has been no activity in three years.

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Online: www.findmassmoney.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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