Yes, New Hampshire has unclaimed property that is managed by the State Treasury’s Unclaimed Property Division.
Unclaimed property includes various financial assets that have been abandoned or left inactive by their rightful owners. These assets may include uncashed checks, dormant bank accounts, insurance payouts, utility deposits, and more. Every year, businesses and government entities in New Hampshire are required to report any unclaimed property to the State Treasury, where it is held until the rightful owner or their heirs claim it.
The New Hampshire State Treasury’s Unclaimed Property Division works diligently to safeguard and manage these assets. The state also conducts community outreach events, like the one at Manchester’s 39 Beech Street Engagement Center, to help residents find and claim their unclaimed property. If you have unclaimed property in New Hampshire, it’s essential to take action and recover what is rightfully yours.
What is Unclaimed Property?
Unclaimed property refers to financial assets that have remained unclaimed by their owners for a specific period, known as the dormancy period. In New Hampshire, the dormancy period varies depending on the type of property, typically ranging from one to five years. Some common examples of unclaimed property in New Hampshire include:
- Uncashed payroll checks
- Inactive savings and checking accounts
- Unclaimed insurance policy benefits
- Utility security deposits
- Contents of safe deposit boxes
- Unclaimed tax refunds or government payments
- Unclaimed property from court cases
When property remains unclaimed for the duration of the dormancy period, it is required by law to be reported to the New Hampshire State Treasury. The state then holds the property in trust until the rightful owner or their heirs come forward to claim it. Unclaimed property is not lost or confiscated; it is held by the state to protect it until it can be returned to its owner.
How Does Property Become Unclaimed in New Hampshire?
Property can become unclaimed in New Hampshire for several reasons, including:
- Change of Address: The property owner moves without updating their contact information, causing financial institutions or businesses to lose contact with them.
- Forgotten Accounts: People often forget about old bank accounts, investments, or insurance policies that they no longer use or need.
- Death of the Owner: If the property owner passes away without informing their heirs about certain assets, these assets can become unclaimed.
- Uncashed Checks: Payroll checks, refunds, or other payments that are not cashed within a certain timeframe can become unclaimed property.
Once the dormancy period has expired, the entity holding the property must turn it over to the New Hampshire State Treasury. The state then lists the property on a public database, where individuals can search to see if they have unclaimed assets waiting for them.
How to Search for Unclaimed Property in New Hampshire
Searching for unclaimed property in New Hampshire is a straightforward process that can be done online or in person at outreach events. Here’s how you can search for and claim your unclaimed property:
- Visit the New Hampshire State Treasury’s Unclaimed Property Website: Go to the New Hampshire State Treasury’s Unclaimed Property website, where you can search for unclaimed property by entering your name, a business name, or the name of a deceased relative.
- Search for Your Property: Enter the required information into the search bar and review the results. You can narrow your search by adding additional details such as a city or zip code.
- Review the Search Results: If you find a match, review the details of the unclaimed property to determine if it belongs to you. The results will typically include the type of property, the name of the entity that reported it, and its value.
- File a Claim: If you believe the property is yours, you can file a claim directly through the website or by contacting the New Hampshire State Treasury’s Unclaimed Property Division. You will need to provide proof of your identity and your right to claim the property, such as a government-issued ID, Social Security number, proof of address, or legal documents if claiming on behalf of a deceased relative.
- Submit Supporting Documents: Along with your claim, submit any required supporting documents that verify your identity and ownership of the property. Ensure that all documentation is accurate and complete to avoid delays in processing your claim.
- Wait for Processing: Once your claim is submitted, the New Hampshire State Treasury’s Unclaimed Property Division will review your claim and verify the documentation. This process can take several weeks to a few months, depending on the complexity of the claim.
- Receive Your Property: If your claim is approved, the state will release the unclaimed property to you. The payout may be in the form of a check, bank transfer, or delivery of physical items, depending on the type of property claimed.
Why You Should Check for Unclaimed Property
It’s important to regularly check for unclaimed property to ensure that any forgotten or overlooked assets are recovered and returned to their rightful owner. Many people are unaware that they have unclaimed property, and these assets can go unclaimed indefinitely if not properly searched for. By taking the time to search the New Hampshire unclaimed property database, you may discover funds or assets that rightfully belong to you.
Additionally, searching for and claiming unclaimed property can help ensure that your financial situation is complete and that your heirs receive all that they are entitled to. The process is simple, free, and accessible, making it a valuable financial practice for every New Hampshire resident.
New Hampshire holds a significant amount of unclaimed property that is waiting to be claimed by its rightful owners. Whether it’s forgotten bank accounts, uncashed checks, or unclaimed insurance benefits, these assets are held by the state until they are claimed. The process to search for and claim unclaimed property in New Hampshire is straightforward and accessible, ensuring that these funds can be recovered at no cost with the proper identification.
Don’t let your assets go unclaimed—take the time to search for unclaimed property in New Hampshire today. By following the steps outlined in this guide, you can easily navigate the process and reclaim any assets that may have been lost or forgotten over time.
For more detailed information on how to claim unclaimed property in New Hampshire, visit our guide: How to Claim and Find Unclaimed Property in New Hampshire. This comprehensive guide will walk you through the steps and provide additional tips to ensure a successful claim.