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English to Spanish translations [PRO] Bus/Financial - Accounting / Accounting
English term or phrase:dormancy period
Unclaimed property is considered abandoned when it remains unclaimed for the number of years prescribed by a particular state's statute. The period during which the property remains unclaimed prior to becoming abandoned is referred to as the dormancy period.
Explanation: A dormancy period, also referred to as the **abandonment period**, is the period of time during which an owner of property does not take action on his property. The dormancy period is determined by the type of property and may vary from one to 15 years.