FRANKFORT, Ky. (LEX 18) — The state treasury has a vault where $1.1 billion in unclaimed property lives, and with more than four million items, it's getting full.
"It's money that belongs to the people, it's not the government's money and it shouldn't be held by us, it should be returned to them," said Deputy Treasurer Russell Webber.
Webber says unclaimed property is considered abandoned after a certain amount of time depending on the asset.
Since January 1, 2024, the office has returned $88 million to Kentucky residents.
"It might be a life insurance policy, it might be a lock box at a bank, it may be a dormant banking account, it may be an uncashed payroll check," said Webber.
They have items dating back to the 1940s, including a glass case full of military metals and memorabilia. They even have a Purple Heart.
"We want to get it reunited with their families so they can keep that legacy in their family for years and years to come," said Jim Florence, Director of Unclaimed Property.
They also have some odd items.
"We have hair lockets, we have teeth," said Florence.
There is no statute of limitations on keeping the items. As long as they belong to you, the treasury will keep them under lock and key.
To check the online database for Kentucky, click here. To check the national online data base, click here.
