Unclaimed property in Nevada laws and regulations are based partially on the common law of property. This generally means that unclaimed property is property which has left the rightful owner’s possession without directly entering another owner’s possession.

The disposition of Nevada state unclaimed property depends on the specific circumstances under which it is found. There are three types of unclaimed property:

1. Lost property is found in a location where the owner did not intend to leave it and is not likely to find it. The finder of state of Nevada unclaimed property is entitled to possession against everyone but the true owner. One exception to this rule occurs when a trespasser finds lost property while on private land.
2. Mislaid property is found in a location where the owner did intend to leave it and simply forgot to pick it up. Mislaid property must be returned to the owner.
3. Abandoned property in Nevada is found in a place where the owner intended to leave it. However, the condition of the property is such that it is unlikely that the true owner intends to reclaim it. Abandoned property belongs to the finder.
   

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Learn about the laws regarding the owners of NV state unclaimed property

Laws on unclaimed property are frequently used to determine the circumstances under which property must be returned to the owner. Unclaimed property laws and regulations are a resource for owners who wish to locate their unclaimed property. Contact the Nevada Department of the Treasury to locate your own property.

I recommend: The National Conference of Commissioners on Uniform State Laws provides information about the Uniform Unclaimed Property Act of 1995, which regulates the return of unclaimed property to the true owner in Nevada. The Nevada Office of the State Treasurer provides the forms and instructions for owners to locate their property.

Examine laws on holders of unclaimed property in NV

Unclaimed property laws describe the requirements for holders of unclaimed property to return the property to the rightful owner. They can determine when ownership of the unclaimed property passes to the holder.

I recommend: Title 120A of the Nevada Revised Statutes issued by the Nevada Legislature provides the rights and obligations of unclaimed property holders in Nevada. Anthem provides its obligations as a holder of unclaimed checks from its customers.

Review Nevada unclaimed property law for finders

Unclaimed property laws for finders address procedures for how finders charge owners for locating, delivering, recovering or assisting in the recovery of their unclaimed property. Unclaimed property laws for finders may also cover the rights of the state to recover compensation for unclaimed property.

I recommend: The Municipal Code for the City of Elko specifies the rights of finders of unclaimed property. US Landlord lists the Nevada Landlord and Tenant Act, which lists the rights of landlords who find abandoned property in apartments.

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• •  The Uniform Unclaimed Property Act is a key piece of federal legislation that affects Nevada unclaimed property law. The Act seeks to address the problems of unclaimed property that arise from its origins in English common law. The National Conference of Commissioners on Uniform State Laws first drafted the Uniform Unclaimed Property Act in 1981 and last revised it in 1995.

The amount and variety of unclaimed property in Nevada and other states 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 unclaimed property in NV also mean that business owners have legal obligations if they come into possession of unclaimed property.

The list of abandoned property types in NV 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 Nevada unclaimed property and how they affect you as a business owner.

2. Search state of Nevada unclaimed property to see if you have forgotten some assets.

3. Know what to do if a relative dies without a will, leaving unclaimed property in Nevada.

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Know your obligations regarding Nevada state unclaimed property

As a business owner, you're typically required to report and remit unclaimed property in Nevada. Most property is considered abandoned after three years, wages after one year. If someone forgets to pick up a deposit or a check, make sure you know what your legal obligations are.

I recommend: For particular information on reporting requirements see Nevada's Unclaimed Property Division Holder Reporting Requirements. If you have a particular issue, you can read the details regarding Nevada abandoned property law.

Search Nevada unclaimed property to ensure that your business hasn't left some assets behind

It may be a longshot, but why not perform a Nevada 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 NV unclaimed property or even some unclaimed land in Nevada that still belongs to your business.

I recommend: Search for abandoned property in Nevada using the Unclaimed Property Division's Unclaimed Property Search. If you come up with something, download the Claims Instruction Sheet.

Take action to prevent escheatment in Nevada

Reclaiming your abandoned property, or returning someone else's, sounds like a straightforward situation, but real life is often messier. When someone disappears or dies intestate and without another person available as heir, their property passes to the state; this process is called escheatment. If you think you or your business have a claim on property that is going to escheatment in Nevada, there are things you can do. If you think you have a legitimate claim to Nevada unclaimed property but the holder disagrees, contact a lawyer. Similarly, if someone is making a claim that you're holding their unclaimed property in Nevada, but you disagree, contact a lawyer.

I recommend: Find out how to petition Nevada for escheated property at the Nevada Revised Statutes site. Claim property at the Nevada Unclaimed Property Division of the Office of the State Treasurer.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you're an heir to a departed relative, search the unclaimed property in every state where they resided, including NV unclaimed property, to see if there's any forgotten assets.

Anyone who wishes to stay current on unclaimed property in Nevada news and trends should identify the key websites that track unclaimed property in Nevada and check them periodically for updates. These sites feature current property databases, which can be searched by personal or business name among other criteria. Nevada also conducts periodic auctions of unclaimed property that may be announced in major news outlets.

Businesses are required to report abandoned property in Nevada, such as abandoned safety deposit boxes or dormant bank accounts, after a specified period of inactivity. Therefore, it is especially important for business owners to be aware of the current reporting regulations. Sources of news information on Nevada unclaimed property include the following:

1. Blogs and forums on state of Nevada unclaimed property. These sources provide first-hand accounts of people who have searched for unclaimed property.
2. Independent newspapers and magazines on Nevada state unclaimed property. These sources are the most likely to provide unbiased news and opinions on unclaimed property.
3. Government websites. These sites are the best sources of official news and trends, such as current laws on unclaimed property.
   

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Read informal sources to get inside news on Nevada unclaimed property

Blogs and forums contain news on Nevada unclaimed property that may not be found anywhere else. This information may include opinions and comments on the unclaimed property system in Nevada. Blogs and forums also have accounts of personal experiences with obtaining unclaimed property.

I recommend: Unclaimed Money Search has a recent post with news about unclaimed property in Nevada. SearchEngineWatch.com is a blog with a post on unclaimed property search engine that lists Nevada as a participating state.

Study sources of unbiased news and trends for Nevada unclaimed properties

Journalists frequently report news on Nevada unclaimed property in online newspapers and magazines. News coverage may include articles on how to claim money in Nevada or about owners that recovered large sums of money. News stories also cover interviews of people who have recovered unclaimed property in Nevada.

I recommend: KLAS-TV offers a recent article about the Nevada State Treasury Department and unclaimed property in Nevada. KTNV-TV provides a story on unclaimed property in Nevada and has a link to the unclaimed property website in Nevada.

Review official unclaimed property in NV websites to get government news and information

Government websites are the best sources of official news on unclaimed property in Nevada. These sites provide information like current property databases and recent changes in the laws regarding unclaimed property in Nevada. County and city websites also may have their own unclaimed property listings and procedures for claiming unclaimed property.

I recommend: The Nevada Office of the State Treasurer provides a search of the state's current unclaimed property database and other official information, including forms and instructions. The 3rd Congressional District Office for Nevada provides official news on a variety of topics in the district, including unclaimed property.

Unclaimed property within the state of Nevada refers to property that has been turned over to the state by individuals or businesses and which has been unclaimed or otherwise abandoned. The state is required to hold onto money, but auctions off material objects at least once a year.

Take the time to learn a few of the terms associated with unclaimed property in Nevada so that you'll be able to locate any money owed to you or successfully bid at the auctions. Here are some of those terms along with some helpful links to help get you started.

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Nevada public sale

The Nevada public sale refers to an auction that is held for all abandoned and unclaimed property (other than money) after a period of two years. The sale must be posted in advance in a county or local paper and the highest bidder wins the auction.

I recommend: Visit the website for the Nevada state legislature for further information on how the Nevada public sale works within the state.

Nevada holder, holder

A Nevada holder, or holder, is any person in possession of unclaimed or abandoned property that belongs to someone who resides within the state of Nevada. (This means people can live out of state and be considered a Nevada holder.) It is incumbent upon that person or business to file a report with the Department of the Treasury.

I recommend: Visit the official website of the Nevada Treasurer for further information on the requirements of a Nevada holder to report unclaimed or abandoned property.

Claimant

The claimant refers to the person who originally found or discovered the unclaimed property. It is then incumbent upon them to contact the local police or if they are a business owner, contact the treasury department in accordance with Nevada law.

I recommend: Visit the website for the city of Elko Nevada for further information on what defines a claimant within the city and the state at large.

Nevada unclaimed property division

The Nevada Unclaimed Property Division is a special division under the state treasury department, which is charged with collecting money and property that has remained unclaimed or abandoned. It then tries to distribute the money to the rightful owner. Non-monetary items are then auctioned off or destroyed if they are not in good shape.

I recommend: Visit the website for Toolkit.com for more information on the function of the Nevada Unclaimed Property Division.

Nevada unclaimed property list

The Nevada Unclaimed Property List is a document that is published once a year by the state of Nevada detailing all of their unclaimed property as well as any contact information or name information they might have for the rightful owner. Aside from checking this list, there is a search engine on the official state website to locate unclaimed property as well.

I recommend: Visit the website for Unclaimed Fund Processing.com for the complete list as it is circulated and updated once per year by the Department of Unclaimed Property.

Nevada safekeeping auction

The Nevada Safekeeping Auction refers to the name of the auction that is held each year to sell unclaimed property. Most of the property that is auctioned has been in the possession of the state for at least one year.

I recommend: Visit the website for local affiliate KLAS for more information on the yearly Nevada Safekeeping Auction that is held to sell unclaimed property.