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Florida Unclaimed Property Currently, the Chief Financial Officer holds unclaimed property claimable accounts valued at $2 billion, mostly from dormant accounts in financial institutions, insurance and utility companies, securities and trust holdings.
However, this scheme is not without its flaws. To start with, its a scam. The state of Florida collects and sells unclaimed property for the benefit of its education fund. Once a treasure has been claimed, it is possible to claim it decades later. In addition, you dont need to pay any money to claim your treasure.
Section 717.117(1)(h), Florida Statutes, provides that credit balances, customer overpayments, security deposits and refunds having a value of less than $10 are not presumed unclaimed.
Chapter 717, Florida Statutes, requires the unclaimed property assets be held by business or government entities (holders) for a set period of time, usually five years.
0:10 1:15 Them unclaimed property laws vary by state but most require businesses to report abandoned assets toMoreThem unclaimed property laws vary by state but most require businesses to report abandoned assets to the state. The state then tries to locate the owner.
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Florida Unclaimed Property Until claimed, unclaimed money is deposited into the state school fund, where it is used for public education. There is, however, no statute of limitations, and citizens have the right to claim their property any time at no cost.
Section 717.117(1)(b), Florida Statutes, provides that For unclaimed funds which have a value of $50 or more held or owing under any life or endowment insurance policy or annuity contract, the full name, taxpayer identification number or social security number, date of birth, if known, and last known address of the

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