The property is turned over to the state to prevent the holder from claiming the property owner’s property. The abandonment period for each type of property is determined by New Jersey’s Unclaimed Property Statute. Therefore, the lack of contact between an owner and a holder triggers some unclaimed property reporting requirements. Without contact from the holder, the owner of the property may forget about the property. This can happen for a number of reasons, such as a change in address or phone number. Usually, then, the financial institution has become unable to reach the property owner. The holder of the property, usually a financial institution or other business entrusted to hold the property on behalf of the owner. Unclaimed money, which may also be referred to as unclaimed property, is money with a known owner, but whose owner cannot be located. New Jersey’s unclaimed property database covers all of its counties: Atlantic, Bergen, Burlington, Camden, Cape May, Cumberland, Essex, Gloucester, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Salem, Somerset, Sussex, Union, and Warren.
#Uncliamed monies how to#
You will learn: the definition of unclaimed property how to search for unclaimed property where to search for unclaimed property the purposes of unclaimed money databases how unclaimed property laws work why some property is not in state unclaimed money databases how to file a claim for your unclaimed property information about third-party “finder” services that will search for unclaimed property and claim it on your behalf and how to avoid having unclaimed property in the future.įortunately, now that states maintain a statewide list of unclaimed property, you no longer have to search for property in each county. Once you have finished reading this how-to guide, you will be an unclaimed property expert and ready to start your search. In addition, you want to look at some federal databases to see if you have unclaimed money that is not required to be reported to the state databases. That is because you want to search in all states in which you or the person for whom you are searching have ever resided. That is because most searches are going to need to include multiple databases. Combine that information with our easy steps to locating money in different databases, and you have a simplified approach to finding unclaimed property.Īlthough finding unclaimed money is a relatively simple process, it can be a very time-consuming one. In addition, we have provided information and links to some other websites, which should be included in many property searches. This database is designed to help New Jersey comply with its state laws regarding unclaimed property, to help people find their unclaimed property, and to help simplify the claims process. In New Jersey, this database is maintained by the State of New Jersey Department of the Treasury. Like most states, New Jersey maintains a state unclaimed money database. However, in this handy guide we provide you with a step-by-step process for conducting a thorough unclaimed money search for New Jersey. Have you been on the hunt for unclaimed property in New Jersey? When you first begin, an unclaimed property search the process can be daunting.
12What information do you need to run an unclaimed property search?.11Does the State of New Jersey make any efforts to locate the rightful owners of money or property?.10Why does New Jersey take possession of unclaimed property?.9Why does New Jersey not operate its own unclaimed property register?.7How long does New Jersey hold unclaimed money?.
6How much unclaimed property is out there?.5What are examples of unclaimed property or money?.4What New Jersey State Laws govern unclaimed money and property?.3Does New Jersey keep all unclaimed property until the actual owner is located?.1New Jersey’s Unclaimed Property Database.