Unclaimed property is a mechanism for the state of New Jersey to safeguard property that has been abandoned or lost for three years. It can include forgotten bank accounts, unclaimed utility deposits and insurance payouts — even real, physical property. It’s amazing how much money is out there.
Last year, it totaled $261.4 million. At least, that’s the amount the state’s Unclaimed Property Administration returned to New Jerseyans in fiscal year 2024.
The money went to 109,181 claims.
State Treasurer Elizabeth Maher Muoio said the state is eager to return unclaimed funds. That’s why it has a website anyone can access to see if they are the owners of anything unclaimed. (You’re going to want to click here.)
Unclaimed property is given to the state if it has been abandoned or lost for three years. Individuals are encouraged to search their name, a maiden name or the name of a business or nonprofit. There is no charge for any part of the service or return of the money/property.
Muoio said it’s a service of the state.
“From hosting community outreach events to maintaining a free, convenient website for users to search for missing assets, Treasury’s Unclaimed Property Administration goes above and beyond to recover and safeguard funds for New Jerseyans across our state,” she said.
“In the past several years, UPA has stepped up efforts to reunite residents with unclaimed assets, and the results have been astounding. I applaud the entire UPA team for delivering another record-breaking year.”
UPA’s Outreach Team focuses on reuniting abandoned property with its owners through various outreach initiatives, including mass mailings, media campaigns and attendance at state fairs, community centers and other public locations and events throughout the year. UPA hosted or participated in 40 outreach events in FY24.
Unclaimed Property Administrator Steve Harris is thrilled by the results.
“I’m proud of the work we’ve done this year to further our mission of reuniting unclaimed property with as many rightful owners as we possibly can,” he said. “We encourage all New Jerseyans to take a few minutes to search for their name on our website, unclaimedproperty.nj.gov. There may be funds in your name being safeguarded by the state that you are entitled to — with interest.”
The return in 2024 surpassed UPA’s previous record set in Fiscal Year 2023, when $202.95 million in assets were returned via 73,686 claims paid.
More than $2.7 billion has been returned since the inception of the program.
