Cut Off Date

Cut Off Date

The date prescribed in the unclaimed property law in most states for determining the items of property that must be turned over to the state. See: Escheat.

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Cut Off Date

1. In property law, the date at which an unclaimed security or other property is turned over to the state in which the last known owner was last known to reside. See also: Escheat.

2. The date a discount, sale, or other especially lowered price on a product or products expires.

3. The last day of a month in which a bank calculates the activity on its accounts. For example, if the cut off date is the fifteenth of the month, the bank calculates its accounts' activities from the fifteenth of one month to the fifteenth of the next. Statements are based on activities between cut off dates.