The amount and variety of unclaimed property in North Dakota is larger than one would think. Sometimes it happens when people move and forget to reclaim their utility deposits or over-payments; other times, people may die and leave some money squirreled away in separate checking or savings accounts. Laws regarding ND unclaimed property and its reversion to the state, also known as ND escheat or ND escheatment, also mean that business owners have legal obligations if they come into possession of unclaimed property.
The list of unclaimed property in ND includes, but is not limited to, stocks, checking/savings accounts, death benefits, vendor checks, over-payments, certificates of deposit, paid-in-full life insurance, uncashed checks, unpaid wages, money orders, credit balances, refunds, dividends, commissions, insurance payments, gift certificates, and customer deposits.
1. Know the laws regarding North Dakota unclaimed property and how they affect you as a business owner.
2. Search abandoned property in North Dakota to see if you have forgotten some assets.
3. Find a North Dakota unclaimed property auction.
Action Steps
The best contacts and resources to help you get it done
Know your obligations regarding ND unclaimed property
As a business owner, you're typically required to report and remit unclaimed property in North Dakota. If someone forgets to pick up a deposit or a check, make sure you know what your legal obligations are.
I recommend: Go to the
ND Unclaimed Property Division for more information on reporting duties. For an outside source on reporting requirements, try the
Business Owner's Toolkit.
Search North Dakota unclaimed property to ensure that your business hasn't left some assets behind
It may be a long shot, but why not perform a North Dakota unclaimed property search to make sure your business doesn't have some assets floating around out there somewhere? This makes even more sense if your business has been around for a long time or it has a long string of former owners. You might be pleasantly surprised to find that one of the former owners neglected to retrieve some ND unclaimed property or even some unclaimed land in North Dakota that still belongs to your business.
I recommend: Search for state of
North Dakota unclaimed property at the North Dakota State Land Department-Unclaimed Property section. Or search for North Dakota unclaimed property at
MissingMoney.com or
CashUnclaimed.com.
Find property or unclaimed land in ND at auctions
State and local governments, as well as police agencies, sometimes dispose of unclaimed properties in North Dakota through auctions. If you like auctions, it can be a good way to save your business some money.
I recommend: PropertyRoom.com auctions unclaimed and seized property from police forces in North Dakota and elsewhere.
JustAuctions features unclaimed properties in ND, as well as foreclosures and seized property.
Tips & Tactics
Helpful advice for making the most of this Guide
- Be wary if approached by someone who wants money in exchange for information regarding state of North Dakota abandoned property; you can get the same information on your own for free.
The official source of Unclaimed Property in North Dakota is
the Unclaimed Property in North Dakota page at Business.com
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