bank abandoned safe deposit boxes auction

The auctions are slated to start later this year, with the longest-held items being auctioned first. If its workers can’t assess the value, items will be sent to someone who can. The auctioneer will evaluate the value of the items and price them appropriately. Or the bank may have determined that the account or safe deposit box was abandoned, so they transferred the contents to the state. It may still be at the bank, or maybe the owner closed it years ago. “We have a few claims, but it doesn’t look like a lot of that is going to go back (to people),” said Jeff Chetkauskas, the assistant director.įollowing a bidding process, the Treasurer’s Office has contracted with Texas-based Lone Star Auctions, which has experience in auctions like these, to handle the sales. A safe deposit box is a locked box located in the vault or safe of a brick-and-mortar bank or credit union. The bank may be able to tell you what happened to the account or safe deposit box. Joe Phelan/Kennebec JournalĮarlier this month, the Treasurer’s Office took out full page ads in all of the major newspapers in the state listing the names, dates and the banks where the contents came from. Iowa State Treasurer Roby Smith recently announced an auction to sell contents from abandoned safe deposit boxes.

The office is holding over $309 million worth of unclaimed property. If you are tax-exempt, you can submit your tax-exempt certificate to prevent the collection of tax. An old copy of “Robinson Crusoe,” bars of silver, jewelry, coins and cards are among the contents of abandoned safe deposit boxes in the custody of the Office of the Maine State Treasurer that will be auctioned off later this year.

Bank abandoned safe deposit boxes auction