The following table summarizes when unclaimed property is presumed abandoned for purposes of the Tennessee Uniform Unclaimed Property Act:

Traveler's Checks15 Years
Stored Value Cards5 Years
Money Orders7 Years
Bonds3 Years
Business Association Debts3 Years
Payroll Cards3 Years
Demand, Savings, or Time Deposits3 Years
Store Credits (excluding credit for returned merchandise)3 Years
Life Insurance3 Years
Annuities3 Years
Property Payable as a Result of Insurance Company Demutualization3 Years
Pension/Retirement Account (Non-Governmental)3 Years
Government Plans/
529 Plans/
3 Years
Custodial Accounts3 Years
Securities3 Years
Safe Deposit Box Contents2 Years
Property Distributable as a Result of a Business Dissolution1 Year
Property Held by a Court1 Year
Property Held by a Government1 Year
Wages, Commissions, Bonuses, Etc.1 Year
Deposits/Refunds Owed by a Utility to a Subscriber1 Year
All Other Property Subject to the Act3 Years

The triggering event is different for each asset. For example, the triggering event for a traveler’s check is issuance of the check. For bonds, the triggering event is the earlier of the maturity date, call date, or date the obligation to pay arises, as appropriate.

For a definition of what constitutes “property” for purposes of the Act, see this post.

Source: T.C.A. §§ 66-29-105 – 111

Posted by Joel D. Roettger, JD, LLM, EPLS