The Division of Local Government Services (DLGS) has created a step-by-step instruction guide for municipalities to search for unclaimed property. The instruction guide is located on its website under DLGS Miscellaneous Publications. Unclaimed property may be uncashed checks, dormant bank accounts, insurance policy proceeds, and stocks that have been left inactive for a certain period. The period for each type of property is defined by the Unclaimed Property Statute.
The New Jersey Department of Treasury is responsible for managing unclaimed property through the Unclaimed Property Administration (UPA). The UPA holds the property until it is claimed by the owner, which could include local governments. Owners can search for their property on the UPA’s website. The process is free and only takes a few minutes to complete.
Contact: Erin Knoedler, Legislative Analyst, eknoedler@njlm.org, 609-695-3841, x116.