Unclaimed Property in New Hampshire Key Terms

Learn some of the terms associated with unclaimed property in New Hampshire

By Jason Wood

Unclaimed property in New Hampshire refers to property such as bank accounts, stock accounts, vehicles, real estate or anything that has been left or abandoned by the rightful owner. That property is held until it is claimed by the rightful owner, or in some cases auctioned off to the public.

Take the time to understand a few of the key terms associated with unclaimed property in the state of New Hampshire so that your company can properly follow procedure. Here are some of those terms along with some helpful links to get you started.

Holder

The holder is the individual, organization or company that is in possession of the unclaimed property. After becoming the holder, that entity bears responsibility for the property until it is turned over to the state or the rightful owner.
Try: Visit one of the official websites for the state of New Hampshire for more information on what defines a holder and the responsibility of the holder.

Prior notice to owner

The prior notice to owner refers to a document that must be sent by the holder of the property to the last known address of the rightful owner in an effort to return the property.
Try: Go to the website for Toolkit.com for additional information on the prior notice to owner and how it must be filed within the state of New Hampshire for unclaimed property.

New Hampshire Unclaimed Property Act

The New Hampshire Unclaimed Property Act refers to a state law, which seeks to identify, recover and return lost or abandoned property to the rightful owners or their heirs.
Try: Go to the website of the Department of Unclaimed Property to read more information on the Unclaimed Property Act.

Description

The description, in terms of New Hampshire unclaimed property, refers to the notes that the holder must make about a tangible piece of property before reporting that item to the state. The description and holder report must be notarized.
Try: Visit the website for Justia.com for an in-depth discussion of the requirements for the description of the property.

Holder reporting

Holder reporting refers to the process that the holder must follow to properly report the unclaimed property to the state of New Hampshire. Depending on the nature of property, various forms must be filed in accordance with a time line set by the state legislature.
Try: Visit the website for the Treasury Department for the state of New Hampshire for more information on the guidelines for holder reporting.

National Association of Unclaimed Property Administrators

The National Association of Unclaimed Property Administrators is an association with a representative from most states that seeks to locate and return unclaimed property to the rightful owner. Because many people move in and out of states, this organization tries to pool its resources when returning unclaimed property. New Hampshire is a member of the National Association of Unclaimed Property Administrators.
Try: Go to the website for the National Association of Unclaimed Property Administrators for additional information and the New Hampshire contact for unclaimed property.