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When is Property Considered Abandoned? New Jersey property is generally presumed abandoned if it has remained unclaimed by the owner, or if there has been no activity other than automatic activity (interest posting on a bank account is considered automatic activity) for more than three years.

When is Property Considered Abandoned? New Jersey property is generally presumed abandoned if it has remained unclaimed by the owner, or if there has been no activity other than automatic activity (interest posting on a bank account is considered automatic activity) for more than three years.

The notice must state that the landlord considers the property left behind abandoned. The notice must give the tenant a time period in which to claim the property. This is 30 days after delivery of the landlord's written notice; or 33 days after the notice is mailed, whichever comes first.

The UPA's goal is to return this property to the rightful owner and/or heirs. The New Jersey Unclaimed Property Statute ensures that property owners never relinquish the right to this property and the UPA only acts as a custodian until the property is returned.

Unclaimed property is any financial asset that has been unclaimed by the rightful owner. There are numerous reasons as to when monies are turned over to the state: Bank accounts that have been inactive for 3 years. Unclaimed money orders, certificates of deposits, payroll wages, etc.

2A:18-72): The personal property is considered abandoned and must be removed from the premises or from the place of safekeeping (if landlord has stored the personal property) not less than 30 days after delivery of the notice or not less than 33 days after the date of mailing, whichever comes first.