What happens after the 90-day waiting period for an unclaimed property claim in South Dakota?

Short answer: After the 90-day notice/waiting period, unclaimed property that a holder has reported and could not return to its owner is typically turned over to the State of South Dakota (the State Treasurer’s custody). The property remains claimable by the rightful owner or heirs, but the state will process and verify any claim before releasing funds or property.

Detailed answer — how the process works under South Dakota law

This explanation describes the common flow under South Dakota’s unclaimed property law (the Uniform Unclaimed Property framework as adopted by South Dakota). For the statutory framework, see South Dakota Codified Laws, Title 43, Chapter 32: SDCL Chapter 43‑32 (Unclaimed Property). For practical filing, see the South Dakota State Treasurer’s unclaimed property pages: South Dakota Treasurer — Unclaimed Property.

1. What is the 90‑day waiting period?

In many unclaimed property situations the holder (bank, business, insurer, etc.) must attempt to contact the owner and then may be required by law or policy to wait a specified period (commonly 90 days) before reporting and delivering the property to the state. That waiting period gives the owner time to respond to the holder’s notice and reclaim the property before the holder remits it to the state.

2. What happens when the 90 days pass and the holder remits the property?

• The holder remits the account balance or property to the State Treasurer, which places the funds/property in state custody as unclaimed property (escheat to the state). See SDCL Chapter 43‑32 for the state’s authority to receive and hold property.
• The Treasurer’s office records the property and typically lists owner names on the public unclaimed property database so owners can search and find the property.
• The owner’s right to recover the property does not disappear just because the property is now in the state’s custody. Most unclaimed property remains claimable indefinitely, subject to verification.

3. How do owners get their property back after it is turned over?

To recover property once it is in the Treasurer’s custody, an owner (or authorized representative) must file a claim with the South Dakota State Treasurer’s Unclaimed Property Division. The typical steps are:

1. Search the state’s unclaimed property database on the Treasurer’s website to locate the property.
2. Complete the Treasurer’s claim form (online claim portal or paper form) and submit required documentation proving identity and ownership. Common documentation includes government ID, proof of address, account statements, title documents, stock certificates, insurance policies, or other records that link the claimant to the asset.
3. The Treasurer reviews the claim, verifies the documents, and may request additional proof if necessary.
4. If the Treasurer approves the claim, the state releases the funds or returns the property to the claimant. If the Treasurer denies the claim, the claimant will be told why and may have options to provide more documentation or to appeal.

4. Timing: how long does the state take to process a claim?

Processing times vary by case complexity and the Treasurer’s workload. Simple claims with clear documentation are often processed faster. Complex claims (multiple owners, estates, or missing documentation) take longer because the office must verify ownership. The Treasurer’s office can provide current processing estimates on its website or by phone.

5. If I don’t get the property back from the holder before 90 days, do I lose it forever?

No. Once the property is remitted to the state, you do not lose the right to it. The state holds the property for the benefit of the rightful owner or heirs. You must follow the state’s claim procedures and provide the documentation required to prove your entitlement.

6. What if the property has multiple owners, is part of an estate, or ownership is disputed?

Claims involving multiple owners or estates often require additional documentation (probate documents, letters testamentary, death certificates, or signed affidavits). If ownership is disputed, the Treasurer will request documentation and may refuse a claim until a court resolves the dispute. In some cases, filing a claim triggers additional review or a requirement to settle competing claims outside the Treasurer’s office.

7. If a claim is denied, what are my options?

• Ask the Treasurer for the specific reason for denial and whether additional documentation could change the outcome.
• Submit additional evidence supporting your claim if available.
• If the denial stands, you may have administrative appeal rights under South Dakota law or the option to pursue the matter in the state’s courts. The Treasurer’s office can explain the appeals or review procedures.

Helpful Hints

• Search the Treasurer’s public database first: many claims can be started online. See: Treasurer — Unclaimed Property.
• Gather strong, dated evidence of ownership: bank statements, cancelled checks, deeds, account contracts, policy numbers, or brokerage records help speed verification.
• Use exact names and prior names (maiden names, business name changes) when searching.
• If the property belonged to someone deceased, collect the death certificate and probate or letters testamentary to show authority to claim the asset.
• Keep copies of everything you submit and note the claim number and any communications with the Treasurer’s office.
• Don’t pay anyone to search the state database for you — the Treasurer’s search is free; be careful of third‑party “finder” services that charge fees.
• If you hit a roadblock (denied claim or unclear documentation), contact the Treasurer’s unclaimed property staff for guidance and ask about appeals or next steps.

Next practical steps

1. Visit the South Dakota Treasurer’s Unclaimed Property site and search the public database: treasurer.sd.gov/Unclaimed-Property.
2. If you find property in your name, start the claim online or download and complete the paper claim form provided on the site.
3. Prepare identity and ownership documents and submit them with your claim.
4. Follow the Treasurer’s instructions if the office asks for more information.

Where to read the law: South Dakota’s statutory chapter on unclaimed property is available at the South Dakota Legislature site: SDCL Chapter 43‑32.

Disclaimer: I am not a lawyer and this is not legal advice. This article explains general principles about unclaimed property under South Dakota law to help you understand the process. If you have a complicated situation or need legal advice about a dispute, estate, tax consequences, or court action, consult a licensed attorney in South Dakota.