SITE INFORMATION

• About Unclaimed Property
• Searches & Claims
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• Report Property
  • Filing Dates
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    Owner Notification
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  • Record Retention
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  • Gift Obligations
    • Law & Policy
    • Procedures
    • Definitions
  • Negative Reports
  • Extension and/or Exemption Request
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  • FAQs
• Heirfinders/Locators
• Auctions
• Glossary of Terms
• Maine's Unclaimed Property Act

Law & Policy

What does Maine's Unclaimed Property Law Cover?

Gift Obligations sold by Maine entities are subject to Maine's Unclaimed Property Act.

Expiration Date ineffective / 2-Year Dormancy Period

Maine's Unclaimed Property Act does not allow enforcement of gift obligation/stored value card expiration dates.

Fees Disallowed

Maintenance fees and service charges are not allowed on gift obligations or stored value cards except upon purchase or when recharged. Read 33 M.R.S.A.S 1953 (G).

Promotional Gift Obligations

Gift obligations issued for promotional purposes (i.e. marketing, fundraising, etc.) are not reportable as unclaimed property. No underlying obligation exists since no monetary transaction occurred. A business may impose an expiration date on a promotional gift.

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