Millions in Unclaimed Sheriff Sale Cash Released

The Philly sheriff's office will hand over money to state and city officials from unclaimed proceeds of more than a decade of sales of property sales.

The Philadelphia sheriff's office says it's handing over $40 million to state and city officials, largely from the unclaimed proceeds of more than a decade of sales of property sales.

The Philadelphia Inquirer reports the total is mostly from the sale of more than 20,000 properties over the last 12 years.

About $7.2 million will go to the city for distribution. The state treasury will get $19.7 million for possible distribution through its unclaimed property unit.

But about $7.8 million in proceeds from sales between 1999 and 2001 don't have names or addresses attached to them. The Inquirer report says the state gets the money unless former property owners can prove they're entitled to it.

Acting Sheriff Barbara Deeley says investigators are looking into why there was so much unclaimed money in office accounts.
 

Copyright AP - Associated Press
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