By Alabama Public Radio
Montgomery, AL – The state treasurer's office will auction unclaimed items from safe deposit boxes later this month. State Treasurer Kay Ivey says it will happen August 20th at the Gordon Persons Building in Montgomery. Banks, insurance companies and other businesses turn over unclaimed property to the state treasurer's office. The owners' names are listed on a Web site so they can retrieve what belongs to them, but much of the property goes unclaimed. Over the years, the state treasurer's office has taken in nearly 77 million dollars in unclaimed property and has paid out nearly 12 million dollars in claims.