Unclaimed Property in Nevada Key Terms

Learn a few of the terms associated with unclaimed property within the state of Nevada

By Jason Wood

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 retain unclaimed 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.

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

Holder

The holder is any person in possession of unclaimed or abandoned property. It is incumbent upon this person or business to file a report with the Department of the Treasury.
Try: Visit the official website of the Nevada Treasurer for further information on the requirements of a Nevada holder to report unclaimed or abandoned property.

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 auctioned off or destroyed if they are not in good shape.
Try: 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 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.
Try: Visit 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 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.
Try: Visit the website for local affiliate KLAS for more information on the yearly Nevada Safekeeping Auction.