Alabama Treasury to hold first online auction - WSFA.com Montgomery Alabama news.

Alabama Treasury to hold first online auction

Posted by: Mario Hendricks - bio | email

MONTGOMERY, AL (WSFA) - State Treasurer Kay Ivey announced that the Treasurer's Office will hold its first ever online auction of unclaimed property safekeeping items beginning Friday, March 5th and continuing throughout the year. 

In the past, live auctions of unclaimed property safekeeping items were held in Montgomery which limited the exposure of the sale primarily to those living in the area. 

Ivey stated, "We are pleased to utilize a resource that will allow us to reach citizens all over the state and even across the country, twenty four hours a day. You will not want to miss the opportunity to view and purchase items such as coins, silver, sports cards, jewelry and hundreds of other collectible items that will be up for bid."

The items for sale have been turned over to the state by financial institutions after contact with the owner of the safe deposit box has been lost. 

By law, these items are considered abandoned and turned over to the state when rent on the safe deposit box is unpaid for a period of at least three years and all efforts by the bank to contact the safe deposit owner have failed.  

Once the items are received by the Treasurer's Office, efforts are again made to locate the property owner before the items are available for auction. Any owner making a successful claim is entitled to receive the original item or the proceeds received from the sale of the item. 

Information, including auction start dates, will be available at www.moneyquestalabama.com

Copyright 2010 WSFA. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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