In accordance with North Carolina General Statute 116B-55, Holders, such as financial institutions and hospitals, forward unclaimed tangible items such as coins, jewelry, stamps, silver, etc. to the Unclaimed Property Program. These items were turned over to the State Treasurer’s Office after the owners abandoned these items and the Holder could not locate the owner.
After a minimum of one year, these items are sold and the money received is placed on our database under the owner’s name and these funds will be refunded to the owner if and when they are located. The total funds held in the Escheat Fund are invested and the interest earnings are given to the NC State Education Assistance Authority (SEAA) for student loans. In July 2007, $22,730,705 was given to SEAA for the prior year’s earnings.
We have entered into a co-operative effort with State Surplus Property to sell unclaimed property. This property is being sold at State Surplus through the bid process and as retail. Items currently on bid can be viewed at bidsnet.htm. Items sold through retail may be viewed and purchased at State Surplus's facility at 6501 Chapel Hill Road, Hwy 54, Raleigh.
We appreciate your interest and hope you will enjoy viewing and bidding on our unclaimed tangible property.
