Abandoned property up for public bid

Your Guide to State, Local, Federal, Estate + International Taxation

Ever wondered what happens to the contents of abandoned safety deposit boxes? Turns out after a number of years held by the state and listed on sites such as https://azdor.gov/unclaimed-property it ends up being auctioned off and starting today you can bid on what was inside!

The Arizona Department of Revenue (ADOR) will hold a public auction of unclaimed safety deposit box contents December 10-14, 2020. The items up for bid include jewelry, coins, currency and collectibles. Due to the pandemic, this year the auction is only online. You can place your bids at www.sierraauction.com from 5 p.m. on Thursday, December 10 to 5 p.m. on Monday, December 14 with a public preview on Friday, December 11, 2020, from 8 a.m. to 4 p.m.

Don’t miss: Arizona Qualified Facility Tax Credit

ADOR is selling the contents as is to the highest bidder. No guarantee of condition or authenticity is given. Proceeds from the auction are transferred to a custodial account and held for the rightful owners to claim.

If you see an item up for bid you believe is your property, you must provide documentation of your right to claim the property. File a claim form, including a valid photo ID and documentation linking you to the owner’s last known address. You must also provide documentation of your legal right to claim property listed in another name.

Interested in estate planning? Contact your Henry+Horne professional today!

Beth Hawley