Thousands of Marylanders to Receive Unclaimed Property Checks

Thousands of Maryland residents may soon receive an unexpected surprise in their mailboxes. The Maryland Comptroller’s Office has begun automatically sending checks for unclaimed property valued under $5,000, thanks to a new state law that took effect last October, WMAR reports.

Comptroller Brooke Lierman said the change allows the state to return money directly to residents when their identity can be verified and the amount owed is below the $5,000 threshold. Unclaimed property refers to funds that businesses or institutions owe individuals but were unable to deliver. This can include uncashed paychecks, refunds, or dormant escrow accounts.

For Maryland resident Doreen Biden, the system worked exactly as intended. She discovered she was owed about $1,000 from an old escrow account. Officials say stories like hers are common and encourage residents to search their names in the state’s unclaimed property database.

The Comptroller’s Office invested more than $1 million to modernize its technology and streamline the claims process. The upgraded system launched last fall and now includes an automatic payment feature when eligibility criteria are met. About 1,000 checks were mailed in December, and roughly 5,800 more are expected to go out in late March. The average payment is around $500.

State officials note they can often locate residents more easily than private companies because government agencies maintain updated records such as voter registration. Tax information is not used in the process. Before any payment is issued, the office sends a test letter 45 days in advance to confirm the address is valid.

Maryland still holds more than 14 million unclaimed property accounts totaling over $2.7 billion. Residents can verify potential claims on the state’s website or through MissingMoney.com to ensure any payment they receive is legitimate.