North Carolina Motion To Release Unclaimed Funds is a legal document that must be filed with the North Carolina Department of State in order to reclaim any unclaimed funds held by the state. This document is typically used when a person or business is owed money by an individual or business that has gone bankrupt or is no longer able to pay the money owed. There are three types of North Carolina Motion To Release Unclaimed Funds: unclaimed wages, unclaimed property, and unclaimed insurance proceeds. Unclaimed wages are funds that have been owed to a person or business by a former employer, but the employer has failed to pay the wages or has gone out of business. Unclaimed property includes funds that have been held in trust or jointly held by two or more people, but no one has claimed the property or funds. Unclaimed insurance proceeds are funds that have been paid by an insurance company, but the beneficiary of the policy has not claimed the money. All of these types of unclaimed funds must be claimed through the filing of a North Carolina Motion To Release Unclaimed Funds.
North Carolina Motion To Release Unclaimed Funds
Description
How to fill out North Carolina Motion To Release Unclaimed Funds?
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FAQ
Ing to North Carolina law, an adverse possession claim allows someone other than the property owner to claim abandoned property?typically a squatter.
Unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds, and contents of safe deposit boxes that typically have been abandoned for one to five years.
Normal processing time is approximately 90 days. You may check the progress of your claim by clicking on "Claim Status" below. Please see the list of Frequently Asked Questions.
By law, unclaimed property is escheated, or turned over, to the department for safekeeping. The Unclaimed Property and Escheats Division (UPD) is responsible for recovering, safekeeping, and returning such property to its rightful owner.
You may search our database and generate a claim from our website, or you may contact our call center at 866-NCCash1 (866-622-2741) Monday through Friday, am to pm, and one of our representatives will be glad to search our database and mail you a claim form if property is identified.
Dormancy periods in North Carolina for common property types include: Wages, Payroll or Salary: One year. Checking and Savings Accounts: Five years. Money Orders: Seven years.
All tangible and intangible property held in a safe deposit box is presumed abandoned two years after the box has been drilled for non-payment of rent per North Carolina General Statutes §53-43.7 and §116B-55.