When someone dies, certain assets may go unclaimed if no one knows they exist or how to retrieve them. Under Minnesota law (Minn. Stat. 345.41 through 345.82), unclaimed property includes things like forgotten bank accounts, uncashed checks and safe deposit contents that revert to the state when inactive. Heirs can recover these assets by following a clear process.
Detailed Answer
1. Understand what qualifies as unclaimed property. In Minnesota, unclaimed property covers abandoned financial assets not acted upon by the owner for at least three years. Common examples include old savings accounts, uncashed dividends or payroll checks, utility refunds and contents of safe deposit boxes. See Minn. Stat. 345.41 for definitions and scope.
2. Search the Minnesota unclaimed property database. Use the official online search tool managed by the Minnesota Department of Commerce: mn.gov/commerce/unclaimed-property or the national MissingMoney site: missingmoney.com/Minnesota. Enter the decedents name and last known address to locate potential assets.
3. Gather proof of your entitlement. To claim property, you must demonstrate you are the rightful heir or personal representative. Typical documents include:
- Certified death certificate of the decedent.
- Letters Testamentary or Letters of Administration from probate court.
- Certified copy of the will (if one exists).
- Affidavit of heirship if no probate was opened.
- Government-issued ID of the claimant.
4. Complete and submit the official claim form. Under Minn. Stat. 345.51, you must file a claim directly with the Minnesota Department of Commerce. The claim packet includes:
- Completed claim form (available at the Department of Commerce website).
- Copies of all supporting documents listed above.
- A notarized signature of the claimant.
Mail or upload your package according to the instructions on the departments website.
5. Wait for review and disbursement. After receipt, the department reviews your claim. This can take 4 weeks or longer, depending on complexity and volume of claims. Once approved, Minnesota issues payment by check or electronic transfer.
6. Consider multi-state searches. If the decedent lived, worked or held property in other states, search their unclaimed property databases as well. Many states participate in the MissingMoney portal.
Helpful Hints
- Order multiple certified death certificates early; agencies typically require originals.
- If probate was never opened and assets remain unexplored, consult a probate attorney or seek guidance from the local register of deeds.
- Keep meticulous records of all correspondence and submissions to state agencies.
- Check back periodically: new properties are reported throughout the year.
- Be patient and follow up gently; state departments handle thousands of claims annually.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Always consult a qualified attorney for advice about your specific situation.