There Are Even Lost Funds In Oregon

The state of Oregon recently released a report that showed that it is holding onto millions of dollars in unclaimed assets and lost funds. These Oregon lost funds can’t just be sent to the rightful owner. They must be claimed. And in order for that to happen, the current or former Oregon resident needs to step forward. Yes, there are even lost funds in Oregon and until more people become aware of that fact, the amounts being held in Treasury accounts across the state are going to continue to climb.

The Origins of Lost Funds in Oregon

According to the report released by the Oregon Department of State Lands, the department in charge of the lost funds in Oregon, the state is holding onto funds that originate from Savings Bonds, Bank Accounts, Utility Deposits, Stock Dividends, Safe Deposit Box contents and even tax refunds.

Yet when you delve further into the lost funds report, you learn that Oregon lost funds also originate from payroll checks, refunds, overpayments and money orders. The report cites the state’s unclaimed property law that was put into effect in 1957 that requires the state to maintain and provide a central registry of unclaimed property and lost funds.

The Oregon Department of State Lands (DSL) has a vested interest in returning the Oregon lost funds to the rightful owners, but the department can only do so much.

What Happens to Lost Funds in Oregon?

Whether the lost funds resulted from a mail mishap or an address change, the money will be sent to the DSL for safekeeping. There it will be kept in the Common School Fund, where the interest will then go to schools and students in need. The state doesn’t spend the money, but it holds onto and manages it until the rightful owners come forward.

As a current or former resident, you might find that you have lost funds waiting on you to come forward. It is now incredibly easy to search for lost funds in Oregon. Search with your first and last name and press submit. If there is a match, you will know it within a few moments. Then you will be able to claim the funds to spend any way you wish.

Yes, there are still lost funds in Oregon and the sooner you search, the sooner you’ll be able to claim your share (if you have a share out there).