Unclaimed Money New Jersey: $3.5 Billion Waiting to be Claimed

Introduction

The New Jersey Department of the Treasury's Division of Unclaimed Property is holding onto a staggering $3.5 billion in unclaimed money belonging to rightful owners. These funds are often overlooked and forgotten, leaving billions of dollars unclaimed. In this comprehensive guide, we will delve into everything you need to know about unclaimed money in New Jersey, providing step-by-step instructions on how to search for and claim what's rightfully yours.

What is Unclaimed Money?

Unclaimed money refers to funds that have been left inactive in bank accounts, insurance policies, and other financial instruments for extended periods. These funds may accumulate from various sources, including:

• Dormant bank accounts
• Uncashed checks
• Abandoned property
• Unclaimed insurance proceeds
• Royalty payments
• Deceased estates with no heirs

How Much Unclaimed Money is in New Jersey?

The New Jersey Division of Unclaimed Property estimates that there are over 30 million unclaimed properties in the state, with a total value exceeding $3.5 billion. These funds are held in trust until the rightful owners or their heirs come forward to claim them.

Who is Entitled to Unclaimed Money?

Anyone who has lived, worked, or conducted business in New Jersey may have unclaimed funds in their name. This includes:

• Current and former residents
• Individuals with dormant or inactive bank accounts
• Beneficiaries of unclaimed insurance policies
• Heirs of deceased estates

How to Find Unclaimed Money in New Jersey

Step 1: Search the Unclaimed Property Database

Visit the New Jersey Division of Unclaimed Property website at https://www.unclaimedproperty.nj.gov/. Click on the "Search for Unclaimed Property" tab and enter your name, last known address, and any other identifying information.

Step 2: Check Multiple Names

As names can change over time, search using all variations of your name, including maiden names, married names, and nicknames.

Step 3: Search for Deceased Relatives

If you are searching for unclaimed money of a deceased relative, contact the Division of Unclaimed Property and provide proof of death and your relationship to the deceased.

Step 4: File a Claim

Once you have identified potential unclaimed money, follow the instructions provided on the website or contact the Division of Unclaimed Property to file a claim. You will need to provide supporting documentation, such as a government-issued ID, bank statements, or insurance policies.

Common Types of Unclaimed Money in New Jersey

• Bank accounts
• Insurance proceeds
• Stocks and bonds
• Utility deposits
• Abandoned property
• Payroll checks
• Royalty payments

Table 1: Top 5 Counties with the Most Unclaimed Money in New Jersey

Table 2: Top 5 Banks with the Most Unclaimed Money in New Jersey

Table 3: Top 5 Types of Unclaimed Money in New Jersey

Table 4: Top 5 Insurance Companies with the Most Unclaimed Money in New Jersey

Conclusion

Unclaimed money is a significant but often overlooked resource. By searching for and claiming your unclaimed funds, you can recover lost money that rightfully belongs to you. The New Jersey Division of Unclaimed Property has made it easy for residents to find and claim their money. By following the steps outlined in this guide, you can increase your chances of locating and recovering your unclaimed money in New Jersey.