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The escheatment process takes place when a US account becomes dormant for a period that is specified by state law, typically between three to five years. At that point, the personal property is transferred to the appropriate State Comptrollers Office and usually liquidated.
0:11 1:29 Program once the property is transferred to the state the owner can still claim it by submitting aMoreProgram once the property is transferred to the state the owner can still claim it by submitting a request. However the process may be more complicated.
After a designated period of time (called the dormancy period) with no activity or contact, the property becomes unclaimed andby lawmust be turned over to the state.
We encourage all holders to file online at . Effective July 1, 2006, all reports containing more than 25 properties must be submitted electronically. For more information about electronic reporting, please call (505)827-0668 or visit or email unclaimed.property@tax.nm.gov.
Dormancy is a period in an organisms life cycle when growth, development, and (in animals) physical activity are temporarily stopped. This minimizes metabolic activity and therefore helps an organism to conserve energy.

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Dormancy periods in New Mexico for common property types include: Wages or Payroll: One year. Checking Accounts: Five years. Money Orders: Seven years.

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