Rotate Legal Arkansas Abandoned Property Forms For Free

Dormancy periods in Arkansas vary by property type. Generally, most property types have a three-year dormancy period. 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.

Maryland Due Diligence Requirements For property that is valued at $100 or more, Maryland requires holders to send due diligence notices. Due diligence notices must be sent each reporting cycle by first class mail at least 30 days, and not more than 120 days prior to filing a report.

Generally, property that is unclaimed by its rightful owner is presumed abandoned after a specified period of years following the date upon which the owner may demand the property or the date upon which the obligation to pay or distribute the property arises, whichever comes first.

Louisiana requires holders to send due diligence notifications for any property with a value of $50 or more. Due diligence notices must be sent each reporting cycle to the apparent owner at the last known address no more than 120 days and no less than 60 days prior to the reporting deadline.

Owners must be provided at least 90 days to respond to due diligence letters before a report is filed. Due diligence must be performed if the value is greater than $50 and the address for the owner appears to be accurate. For your convenience, sample due diligence letters are provided on pages 17 and 18.

The Auditor of the State's office keeps Unclaimed Property for the rightful owners forever. What if my claim goes inactive? It is okay. You may restart your claim at any time.