Minnesota
Statutory term: Unclaimed Property
Overview
Search for Unclaimed Property
This program provides a public search portal where you can look up unclaimed property.
Search Now →Key Statistics
Dormancy Periods
The dormancy period is how long property must be inactive before it is considered unclaimed and reported to the state.
| Property Type | Years | Notes |
|---|---|---|
| Bank accounts (checking/savings) | 3 | After 3 years of inactivity per Minn. Stat. 345.32 |
| Wages/payroll | 1 | Wages become abandoned after 1 year |
| Insurance proceeds (life) | 3 | Per Minn. Stat. 345.33 |
| Securities/dividends | 3 | 3 years of inactivity |
| Utility deposits | 1 | Per Minn. Stat. 345.34 |
| Safe deposit boxes | 5 | 5 years after lease expiration; contents inventoried and may be auctioned |
| Traveler's checks | 15 | 15 years after issuance |
| Money orders | 7 | 7 years after issuance |
| Gift certificates | 3 | Standard dormancy unless exempted |
Minnesota follows the 1981 UUPA framework with modifications. Most property types have a 3-year dormancy period. The state has attempted to adopt RUUPA (2016) but legislation has not yet passed. The Department of Commerce currently protects more than $834 million in unclaimed property.
Finder / Helper Restrictions
Restriction Level: Moderate
Fee Cap: 10% — Total compensation may not exceed 10% of the value of the recoverable property (Minn. Stat. 345.55).
Waiting Period: 24 months — Agreements entered into during the period from presumed abandonment through 24 months after the property is paid or delivered to the commissioner are void and unenforceable.
Solicitation Rules: No specific prohibition on unsolicited contact, but agreements must be in writing and signed by the owner with full disclosure of property details.