Escheated Property in North Dakota: How to Reclaim Your Lost Assets

In North Dakota, escheated property refers to financial assets or personal property that have been abandoned or left unclaimed for a certain period, known as the dormancy period. These assets are transferred to the state’s Unclaimed Property Division, where they are held in trust until the rightful owner or heir comes forward to claim them. North Dakota currently holds millions of dollars in unclaimed property, and with a few simple steps, you could uncover assets that belong to you or your family.

This comprehensive guide will walk you through what escheated property is, how to claim it, and how to prevent your property from becoming unclaimed in the future. Plus, we’ll share some fun facts about North Dakota along the way!

What Qualifies as Escheated Property?

Escheated property encompasses a wide range of financial and personal assets that remain unclaimed by their rightful owners. Common examples include:

  • Bank Accounts: Savings, checking, or certificates of deposit (CDs) that have been inactive for several years.
  • Uncashed Checks: Payroll, dividends, or tax refunds that were never deposited.
  • Safe Deposit Boxes: Contents such as jewelry, documents, or family heirlooms.
  • Insurance Proceeds: Life insurance benefits or premium refunds that remain unpaid.
  • Securities: Stocks, bonds, or mutual funds left unattended.
  • Gift Cards and Certificates: Unused balances, depending on state-specific laws.

How Does Property Become Escheated in North Dakota?

Property becomes escheated when it has been inactive or unclaimed for a period defined by the state. Here’s how the process works:

1. Dormancy Period

The dormancy period varies depending on the type of asset. In North Dakota, typical dormancy periods include:

  • Bank accounts: 5 years
  • Uncashed payroll checks: 1 year
  • Safe deposit box contents: 3 years

2. Notification Attempts

Before declaring property as abandoned, businesses or financial institutions are required to make reasonable efforts to contact the owner. This may include sending letters, emails, or making phone calls.

3. Transfer to the State

If the owner does not respond within the dormancy period, the property is transferred to the North Dakota Unclaimed Property Division for safekeeping. The state holds these assets in trust until they are claimed by their rightful owners.

How to Search for and Claim Escheated Property in North Dakota

If you believe you or someone you know may have unclaimed property in North Dakota, follow these steps to start your search:

1. Visit the North Dakota Unclaimed Property Website

The state offers an online search tool to help residents locate unclaimed assets. Begin your search at North Dakota’s Unclaimed Property Division.

2. Enter Your Information

  • Use your full name, previous addresses, or business name to search the database.
  • Refine your search by including middle initials or ZIP codes for more accurate results.

3. File a Claim

If you find property that belongs to you:

  • Submit a claim through the website.
  • Provide proof of identity (e.g., a government-issued ID) and ownership (e.g., old account statements or receipts).

4. Follow Up

Once you’ve submitted your claim, the state will review it and contact you if additional documentation is needed. Claims are typically processed within 30 to 90 days.

Fun Facts About North Dakota

  • North Dakota is the largest producer of honey in the United States, making it the sweetest state!
  • The state is home to the world’s largest buffalo monument, Dakota Thunder, in Jamestown.
  • North Dakota has more wildlife refuges than any other state, with 63 locations preserving the natural habitat.
  • The International Peace Garden, located on the U.S.-Canada border, celebrates the friendship between the two countries.
  • With a population density of about 11 people per square mile, North Dakota offers vast open spaces and breathtaking landscapes.

Why You Should Claim Your Escheated Property

Reclaiming escheated property is essential for several reasons:

  • It’s Your Money: These assets belong to you or your family, and there’s no cost to claim them.
  • It’s Simple: The claims process is straightforward and user-friendly.
  • Prevent Losses: Escheated funds held by the state do not earn interest, so the sooner you claim them, the better.
  • Rediscover Value: Many people are surprised by the assets they recover, which may include significant sums or sentimental items.

Preventing Property From Becoming Escheated

forgotten loot free report

To ensure your assets don’t become unclaimed in the future, follow these tips:

  • Update Contact Information: Notify banks, employers, and service providers of address changes.
  • Monitor Accounts Regularly: Periodically review your financial accounts and transactions.
  • Respond to Notifications: Act promptly if you receive notices about inactive accounts or unclaimed property.
  • Inform Family Members: Make sure your heirs know about your accounts and valuables.

Download the “Forgotten Loot Guide”

Navigating unclaimed property laws can be confusing, but our free “Forgotten Loot Guide” simplifies the process. This comprehensive resource includes:

  • Links to unclaimed property databases for all 50 states.
  • Step-by-step instructions for filing claims.
  • A checklist to ensure no assets are overlooked.

Download the Forgotten Loot Guide today and take the first step toward reclaiming what’s yours.

Conclusion

Escheated property in North Dakota represents an opportunity to recover lost or forgotten assets. Whether it’s an old bank account, an uncashed check, or valuables from a safe deposit box, these assets are worth reclaiming. With millions of dollars held by the state in unclaimed property, now is the time to start your search. Visit North Dakota’s Unclaimed Property Division and see what treasures await. Don’t forget to download the “Forgotten Loot Guide” to simplify your search, access to the other 49 states, Washington and Puerto Rico and maximize your results!