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#1718958 - 07/11/12 11:02 AM Cashiers Check
Doug Hendrickson Online
Power Poster

Registered: 10/01/09
Posts: 3268
Loc: NE New Mexico
I know that Cashier's Checks don't expire. I'm trying to determine if the New Mexico Unclaimed Property Regulation covers Cashier's Checks. I don't see anything in the abandonement section that specifically refers to Cashier's Checks. I'm thinking that they might be covered by the 'catch-all' at the end:
(15) all other property, five years after the owner's right to demand the property or after the obligation to pay or distribute the property arises, whichever first occurs.

However, does this mean five years since issuance, as this is when the owner's right to demand the property begins, or does it mean no limit, since the owner's right to demand the property never ends?

Are others dealing with Cashier's Checks as part of the annual check of abandoned property?
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I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1719173 - 07/11/12 04:49 PM Re: Cashiers Check [Re: Doug Hendrickson]
Lestie G Offline

Power Poster

Registered: 05/21/02
Posts: 3512
Loc: Near the Land of Enchantment
I always considered cashiers checks 5+ years from issuance as escheatable. Can't point to a specific reg though.
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Opinions my own.

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#1719206 - 07/11/12 05:28 PM Re: Cashiers Check [Re: Doug Hendrickson]
Suzette Online
Member

Registered: 02/07/08
Posts: 60
Loc: Land of Enchantment


Go to this site. It is the document and information needed to escheat cashiers checks, etc. http://www.tax.newmexico.gov/SiteCollectionDocuments/rpd-41200.pdf

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#1719217 - 07/11/12 05:47 PM Re: Cashiers Check [Re: Suzette]
Doug Hendrickson Online
Power Poster

Registered: 10/01/09
Posts: 3268
Loc: NE New Mexico
Thanks! That's the document I've been using the past two years, but never bothered searching it (duh!) for the word cashier. Although they don't talk about them in the preamble, as they do for other accounts, they do refer to them in the detailed instructions as how to report them.
_________________________
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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