To claim property through the Great Colorado Payback, search for unclaimed property on the Great Colorado Payback website using your last name or the name of someone you are an heir of, instructs the Colorado Office of State Treasurer. Print, fill out and submit the claim form for any found assets.
The Great Colorado Payback helps Coloradans and their heirs find forgotten and lost assets such as bank accounts, payroll wages, safe deposit boxes, stocks and dividends, states the state treasury website. The Colorado Department of the Treasury returns any found property to its owners upon processing legitimate claims and holds all unclaimed property in trust until the rightful owners or their heirs claim it.
Businesses can also search for unclaimed assets on the Great Colorado Payback website, using largely the same process, according to the treasury website. The Colorado Department of the Treasury provides claim status updates by phone and takes an average of 18 to 20 weeks to process claims.
Rightful asset owners may also reactivate some unclaimed property with the financial institution or company that held the original asset, explains the treasury website. For instance, property owners can contact banks directly about dormant bank accounts and safe deposit boxes. However, some institutions may charge a fee to reinitiate use of the asset, especially for safe deposit boxes.