Some New Yorkers Could Receive Up to Suprise $250 in Mail!
Based on a recently passed law and starting this month, January 2025, New Yorkers could receive up to $250 automatically from the State’s Controller’s Office, states a recent news article from the New York
Post. These funds may include funds from unclaimed and old bank accounts, investments, gift cards and insurance checks that were turned over to the States after they weren’t claimed in enough time. State
residents do not need to do a thing!
Under the recently passed law, the Controller’s Office will automatically mail out checks to Owners who have property owed to them up to $250. Since most unclaimed property can be between $70 & $100,
this will cut down on some of the headaches associated with claiming this property. The State will still verify that this property is rightfully theirs. Please note, the checks will only be mailed to Owners
of property up to $250. Owners will still have to submit a claim with the State on any property over $250.
Prior to this announcement, Owners had to go through the headache of filing a claim with the State to reclaim all unclaimed property due to them, no matter what the amount.
This is a significant benefit for New York residents and Owners of unclaimed property because it cuts down on all the red tape and hoops Owners need to jump through to reclaim this rightful ownership to the property.
We can only hope additional States implement this new ruling the State of New York just announced. Although this new ruling is only for property reported to the State of New York as unclaimed from January 2025, going forward. For property reported prior to January ’25, the Owner will still need to file a claim with the State in order to reclaim it.
We can only keep our fingers crossed more States adopt this ruling to alleviate the burden, headaches and wait times Owners have experienced when trying to reclaim funds that are rightfully owed to them.
So sit tight New Yorkers, funds may be coming your way in the mail!
