In New Jersey, financial institutions review all accounts held for activity by the owner. If an account is dormant or has had no activity for over a year, the institution will send a notice to the owner. If the owner fails to respond on a timely basis then the account will be turned over to the New Jersey Unclaimed Property Office (“NJUPO”).
The NJUPO has created a website, as well as other initiatives, to facilitate the return of unclaimed property to its rightful owner. The website Unclaimed Property, Claimant Information, contains by name a list of all individuals whose accounts and other property have been turned over to NJUPO. This site also provides you the opportunity to search other states’ unclaimed property databases.
The website is user friendly and is free of charge. If you find property which may belong to you, then you file a claim and provide the required documents. Once processed, the property is returned to you.
We suggest that you routinely check the website to see if you or any of your loved ones or friends has property that they can reclaim from the State.
The information presented in this article is not legal advice and does not create an attorney-client relationship with Bourne, Noll & Kenyon.