The state of NJ has the highest population density of all the 50 states - averaging a whopping 1,030 people per square mile with 9 out of 10 of the people residing in an urban area. This might explain the fact that property taxes in the Garden State are the highest in the nation - twice the national average. According to a recent report by WCBS Newsradio however, 200 thousand homeowners in NJ do not seem to be bothered by that considering that they failed to apply for $200 million worth of tax rebates.
Tax rebates are just one of the many potential sources of New Jersey unclaimed money and funds. Abandoned uncashed checks, unclaimed insurance and retirement benefits, cash and mineral deposits, stocks, bank accounts and even safe deposit box contents all fall under NJ’s Unclaimed Funds Law. All kinds of things have been found in the latter - a prosthetic leg, autographs of historical figures like General George S. Patton and Mae West, an $80,000 Tiffany bracelet and old animal bones have been collected from deposit box contents abandoned by residents of NJ.
People often lose track of their assets when they change addresses or jobs, get married, or pass-away. Mailed notices or checks can get returned to their senders when forwarding addresses aren’t left behind by the would be recipients. Under escheat laws, these abandoned financial assets are turned over to the state after a certain number of years which varies from account type to account type, and state to state. The web site of the NJ Division of Taxation states the following about unclaimed money and funds: “Except as otherwise provided by this chapter, all property, including any income or increment derived therefrom, less any lawful charges, whether located in this State or another state, that is held, issued, owing in the ordinary course of a holder’s business and has remained unclaimed by the owner for more than three years after it became payable or distributable is presumed abandoned. At the time that an interest is presumed abandoned under this section, any other property right accrued or accruing to the owner as a result of the interest, and not previously presumed abandoned, is also presumed abandoned.”
Some 42 thousand residents of the Garden State recently claimed $88.4 million in just one year, but there are still hundreds of millions of dollars to be claimed belonging to over 1,200,000 people. Each of the 1,200,000 people are owed at least 50 dollars, but many are owed a lot more. Atlantic City, N.J. is home to the annual Miss America pageant, but state residents ought to look into something just as beautiful (if not more) - NJ unclaimed funds.
Liberty And Prosperity is the state motto and everyone is indeed encouraged to go check and do a search for unclaimed funds and make themselves a bit more prosperous by taking back their lost money. It can be as simple as going on-line and doing and unclaimed property search using a name . The tricky part though is doing a thorough search, as it is possible to miss pre-escheat funds and unclaimed property in other states.
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Unclaimed pot of gold (Adelaide Now)
A GOLD mine of unclaimed money totalling more than $43 million is awaiting thousands of oblivious South Australians.
Woman accused of $15 million fraud - ninemsn
Mr Kidd said Cowen registered her own firm Recovery Plus in 2008 after buying a program that taught her how to set up a business helping people recover unclaimed money. The program claimed she could make a lot of money doing little work.
IRS Sitting On $1.3 Billion In Unclaimed Refunds (KARK Little Rock)
The Internal Revenue Service is sitting on $1.3 billion in unclaimed 2006 tax refunds. That money is owed to 1.4 million people who didn’t file, and they’re running out of time.
Millions in IRS refunds unclaimed - Tulsa World
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Unclaimed property returns skyrocket - MSN Money
The Florida Bureau of Unclaimed Property returned more than $22 million last month, marking the largest amount of unclaimed property returned to owners in state history. The returns come from dormant accounts, unclaimed utility deposits, insurance …
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Between the cash sitting in forgotten bank accounts, life insurance and shares, lotto winners who are yet to come forward and money owed in inheritance, millions of dollars await their rightful owners. Australian Securities and Investments Commission …
Time is running out for lottery winners - Nashua Telegraph
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