Make Notes On Legal Tennessee Abandoned Property Forms For Free

Tennessee Dormancy Periods Most property types in Tennessee have a dormancy period of three years. For most property types, accounts are considered dormant if the owner of a property has not indicated any interest in the property or if no contact has been made for the allotted dormancy period for that property.

The default dormancy period for unclaimed property has been changed from 5 years to 3 years. Property that does not have a specified dormancy period must now be reported 3 years after being "unclaimed".

Abandonment. The tenant's unexplained or extended absence from the premises for thirty (30) days or more without payment of rent as due shall be prima facie evidence of abandonment. The landlord is then expressly authorized to reenter and take possession of the premises.

The legislation provides specific guidelines on due diligence for the holder of the property. Holders of the property presumed abandoned shall send a notice to the owner: For all property with a value of $50 or more. By first-class mail 60?180 days before filing the report.

Submit your report using our secure, online portal The ReportItTN online portal allows you to submit your unclaimed property report electronically to meet statutory requirements. Important: You are still required to create your NAUPA file prior to using the online reporting portal.

§§ 66-29-101-155 is the Tennessee Unclaimed Property Act. The act requires all holders of unclaimed or abandoned property to report and transmit all unclaimed property to the state. All reports must be filed electronically in an accepted format. The Department of Treasury has free software available on their website.