Whether you have lived in New Hampshire or have relatives who lived in New Hampshire, there is a chance that you may have property held by the state. From time to time, you may see advertisements that claim to be able to help you locate and reclaim this property for a fee. However, if you know how to find unclaimed property in New Hampshire, you can claim the property free of charge without the assistance of any third party.
Defining unclaimed property
Refunds due from creditors, salary payments that were uncollected, checking account balances that you may have forgotten about as well as stocks, bonds and mutual funds all may be considered unclaimed property. Property is considered abandoned by the owner if there has been no contact and no activity in an account for a period of five years or more. Before property is considered unclaimed the account holder (business, bank, etc.) must notify the account owner by mail. The notification must specify that if they are not contacted within a specified period of time that the property will be turned over to the State of New Hampshire in compliance with the unclaimed property laws.
How to locate unclaimed property
Nearly every state has a method to search an unclaimed property database and New Hampshire is no different. Unclaimed property in New Hampshire is administered through the New Hampshire Treasury and reported through the Missing Money database. The database is updated on a weekly basis to ensure that more people can find funds that they may be entitled to.
Costs involved in unclaimed money
Claimants are never required to pay a fee to collect property. The State of New Hampshire allows account owners to claim property for themselves, their business or if they are an heir to the rightful property owner. The only time a fee may be required is in the event that securities such as stocks, bonds or mutual funds are being held. In this instance, there may be a small processing fee to transfer the securities back to the original owner.
Those who have lived in, done business in or have family members who have worked or lived in New Hampshire should know how to find unclaimed property. While most property does not go unclaimed, it costs nothing to find out and nothing to claim. After property has been turned over to the state, after three years, it is distributed through the General Fund and used to help reduce tax burdens. However, even after this occurs, the rightful owner or heirs may still claim and have the right to receive the property. Unclaimed property that has been turned over to the State of New Hampshire is held in perpetuity for the rightful owner or their heirs.