I just got a treasurer's check from the bank. How long can I hold on to it before cashing it?
A Treasurer's check is what some banks call Cashier's checks. Such checks continue to be valid claims on the issuing banks, regardless of how old they are, with one exception.
Every state has its own version of a law requiring that abandoned property be turned over to the state after a specific number of years, including bank accounts and uncashed cashier's checks, among other types of property. For uncashed cashier's checks, that period can vary widely from state to state, from as little as three years to much longer periods.
Even after the funds for a cashier's check have been surrendered to the state, there is a process that can be used to reclaim them. It starts with contacting the state's Unclaimed Property division, normally part of the state treasurer's office.
Don't hold onto the check too long. Such checks have a way of being misplaced and if something were to happen to you, your heirs could have difficulty reaching the funds.
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A Treasurer's check is what some banks call Cashier's checks. Such checks continue to be valid claims on the issuing banks, regardless of how old they are, with one exception.