New Mexico
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 | 5 | Demand, savings, or time deposits; 5 years from earlier of maturity or last owner activity |
| Wages/payroll | 1 | Wages or other compensation for personal services; 1 year after payable |
| Insurance proceeds | 3 | Life or endowment insurance policy or annuity; 3 years after obligation to pay arose |
| Securities | 5 | Stock or other equity interest; 5 years from last indication of interest |
| Utility deposits | 5 | Utility deposits and refunds |
| Safe deposit boxes | 5 | 5 years from expiration of last rental payment |
| Traveler's checks | 15 | 15 years after issuance |
| Money orders | 7 | 7 years after issuance |
New Mexico follows the 1995 Uniform Unclaimed Property Act. General dormancy is 5 years for most property. Due diligence notifications required for property valued at $50 or more, including newspaper publication for mineral interests. The department has 90 days to approve/deny claims and 30 additional days to pay. Individual claims average $500.
Finder / Helper Restrictions
Restriction Level: Strict
Fee Cap: No specific cap; unconscionable fees unenforceable — New Mexico does not set a specific percentage cap, but agreements providing for compensation that is unconscionable are unenforceable except by the owner. An owner or the administrator may bring an action to reduce the compensation to a reasonable amount (NMSA 7-8A-25).
Waiting Period: 48 months — An agreement to locate, deliver, recover or assist in the recovery of presumed abandoned property is void and unenforceable if entered into from the date the property was presumed abandoned through 48 months after the date the property is paid or delivered to the administrator (NMSA 7-8A-25).
Solicitation Rules: Finder agreements are void if entered into within 48 months of property delivery to the state. Exception: agreements with attorneys to file claims or contest claim denials are permitted. The NM Tax Department advises citizens to search for free.