INDIANAPOLIS — The Office of the Indiana Attorney General’s Unclaimed Property Division is offering unclaimed items for auction on eBay.
“Our top priority with unclaimed property is to get those assets back to the rightful owners,” said Attorney General Todd Rokita. “To that end, we want to use the most efficient and effective processes to achieve that mission.”
The only tangible items received by the Unclaimed Property Division are the contents of dormant safe deposit boxes. All other property is unclaimed money from origins such as closed bank accounts, old paychecks, closed estates, or from stock and securities.
After receiving unclaimed property, the Unclaimed Property Division tries to find the rightful owners or heirs.
Individuals or businesses have 25 years in which to claim money once it’s held by the Unclaimed Property Division. They must supply proof of rightful ownership.
State statute says unclaimed items from safety deposit boxes can be liquidated after three years, said Amy Hendrix, director of the Unclaimed Property Division. The proceeds are then available to be claimed by the rightful owner or heir.
The Unclaimed Property Division started the eBay auctions this summer and they have done “very well” so far, according to Hendrix.
Selling the items on eBay offers one of the most effective means for getting top dollar for Hoosiers who might eventually claim the property.
“Each November, we receive a new batch of safe deposit boxes,” said Valerie Jones, Unclaimed Property Division project manager. “Items are then inventoried, appraised, and authenticated. Then we will be listing them on the eBay auction site.”
To follow the Unclaimed Property Division’s eBay auctions, visit this link.
