Unclaimed Property in North Carolina

Know the rules regarding unclaimed property in North Carolina
By J. Simonetta The amount and variety of unclaimed property in North Carolina 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 NC also mean that business owners have legal obligations if they come into possession of unclaimed property.

The list of unclaimed property in NC includes, but is not limited to, stocks, checking/savings accounts, death benefits, vendor checks, over-payments, certificates of deposits, 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 Carolina unclaimed property and how they affect you as a business owner.

2. Search abandoned property in North Carolina to see if you have forgotten some assets.

3. Find state of NC unclaimed property auctions.

Know your obligations regarding NC unclaimed property

As a business owner, you're typically required to report and remit unclaimed property in North Carolina. If someone forgets to pick up a deposit or a check, make sure you know what your legal obligations are.
Try:  Go to the North Carolina Department of the State Treasurer Unclaimed Property Program for Reporting Forms. The Business Owner's Toolkit also has information about your obligations regarding unclaimed property in North Carolina.

Search North Carolina 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 Carolina 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 NC unclaimed property or even some unclaimed land in Delaware that still belongs to your business.
Try:  Search for abandoned property at the North Carolina Department of the State Treasurer Unclaimed Property Program via their Unclaimed Property Search. Or search for North Carolina abandoned property along with many other states at MissingMoney.com check with CashUnclaimed.

Find abandoned property in NC at auctions

State and local governments, as well as police agencies, sometimes dispose of unclaimed properties in North Carolina through auctions. If you like auctions, it can be a good way to save your business some money.
Try:  The High Point Police Department, and many others, dispose of unclaimed North Carolina property through PropertyRoom.com. JustAuctions features NC state unclaimed property, as well as foreclosures and seized property.

• Be wary if approached by someone who wants money in exchange for divulging information regarding state of North Carolina unclaimed property; you can get the same information on your own for free.