Unclaimed property list multiplies sixfold
MADISON, Wis. — The list of people who have unclaimed property in Wisconsin has multiplied sixfold in less than a year.
The Milwaukee Journal Sentinel reported the backlog stands at about 7,300 claims as of the beginning of June, compared to 1,200 last July.
The news follows last year’s decision by lawmakers to transfer the program to the state Department of Revenue as part of the state budget, taking it away from state Treasurer Kurt Schuller over that elected official’s objections.
Jennifer Western, the No. 3 official at the revenue department, said her agency has identified challenges, including antiquated software and outdated vendor contracts and procedures for handling claims.
The property program aims to connect people with unclaimed property such as abandoned safe deposit boxes and estates whose heirs haven’t been found.