
Bd 81 1 2014-2025 Form


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People also ask
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How long does California hold unclaimed property?
Unclaimed property is tangible or intangible property that becomes “dormant” for a legislatively defined period of time, typically three years. For a corporation, this can include uncashed payroll checks, vendor checks, insurance proceeds, the unused portion of company gift cards, etc.
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What is a relationship code for unclaimed property?
Relationship codes help the state determine how they should pay out a claim. For example, if you have a property that is owned solely by John Smith you may use the relationship code of 'SO' which means 'sole owner'. When the state pays John's claim, they will know the property belongs to him alone.
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What is the most common unclaimed property?
The most common types of unclaimed property are: Bank accounts and safe deposit box contents. Stocks, mutual funds, bonds, and dividends. Uncashed cashier's checks and money orders. Certificates of deposit. Matured or terminated insurance policies. Estates. Mineral interests and royalty payments.
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How long does the state of Michigan keep unclaimed property?
Does the Michigan Department of Treasury auction off unclaimed property? Yes, after items have been held as unclaimed property for at least two years, the Michigan Department of Treasury periodically sells those items at auction. Auction proceeds are then held for the rightful owner or their heirs to claim.
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What is a relationship code?
Relationship codes help categorize human relationships for emergency contact records, benefit plan coverage, and beneficiary information.
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