New Jersey Revised Statutes § 46:30b-7 - When Property Presumed Abandoned Generally.

46:30B-7 When property presumed abandoned generally.

46:30B-7. When property presumed abandoned generally. 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.

L.1989, c.58, s.1; amended 2002, c.35, s.4.

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Last modified: October 11, 2016