Yes, North Dakota currently holds more than $132 million in unclaimed property.
This unclaimed property includes a variety of financial assets that have been separated from their rightful owners for a specified period of time, typically three years. These assets are then remitted to the state as unclaimed, where they are held until claimed by the original owner or their heirs.
Unclaimed property in North Dakota can include assets such as uncashed checks, dormant bank accounts, insurance proceeds, stocks, bonds, and the contents of safe deposit boxes. The North Dakota Unclaimed Property Division is responsible for managing these assets and helping residents recover what is rightfully theirs.
What is Unclaimed Property in North Dakota?
Unclaimed property refers to any financial asset that has been abandoned or inactive for a certain number of years. In North Dakota, if an owner cannot be located and there has been no activity on the account for a specified period, the property is considered unclaimed and is turned over to the state’s Unclaimed Property Division. This ensures that these assets are safeguarded until they can be returned to their rightful owner.
Some common types of unclaimed property in North Dakota include:
- Uncashed payroll checks
- Inactive bank accounts (savings and checking)
- Unclaimed insurance benefits
- Stocks, bonds, and dividends
- Safe deposit box contents
- Utility deposits
- Refunds from overpayments
It’s important to note that unclaimed property does not include real estate or any property with a title, such as vehicles or boats. Instead, it primarily consists of intangible assets that can easily become separated from their owners due to factors such as a change of address, forgotten accounts, or lost checks.
How to Search for Unclaimed Property in North Dakota
Searching for unclaimed property in North Dakota is a straightforward process that can be done online or by contacting the state’s Unclaimed Property Division. Here’s how you can find out if you have unclaimed property in North Dakota:
- Visit the North Dakota Unclaimed Property Website: Start by visiting the official North Dakota Unclaimed Property website. This website allows you to search for unclaimed property using 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. To narrow down the search, you can provide additional details such as a city or zip code.
- Review the Search Results: If you find a match, review the details to determine if the unclaimed property belongs to you. The results will include information about the type of property, the name of the reporting entity, and the property’s value.
- File a Claim: If you believe the property is yours, you can file a claim directly through the website. The process will require you to provide proof of your identity and your right to claim the property. This may include government-issued identification, Social Security number, and proof of address.
- Submit Supporting Documents: Along with your claim, you will need to submit the necessary documents to verify your identity and ownership. Ensure that all documentation is accurate and complete to avoid any delays in processing your claim.
- Wait for Processing: Once your claim is submitted, the North Dakota Unclaimed Property Division will review and verify the provided documents. This process may take several weeks to a few months, depending on the complexity of your claim.
- Receive Your Property: If your claim is approved, the state will release the unclaimed property to you. The payout may come 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 in North Dakota
It’s important to regularly check for unclaimed property to ensure that any forgotten or overlooked assets are returned to you. Many people are unaware that they have unclaimed property, and these assets can remain unclaimed indefinitely if not properly searched for. By taking the time to search the North Dakota Unclaimed Property database, you may discover funds or assets that rightfully belong to you.
Additionally, checking for unclaimed property helps ensure that your financial situation is complete and that your estate is properly managed. The process is simple, free, and accessible, making it a valuable financial practice for all North Dakota residents.
North Dakota holds a significant amount of unclaimed property, with millions of dollars waiting to be claimed by their 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 North Dakota 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 North Dakota 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 North Dakota, visit our guide: How to Claim and Find Unclaimed Property in North Dakota. This comprehensive guide will walk you through the steps and provide additional tips to ensure a successful claim.