SANTA FE, N.M. (KRQE) – If property or cash is abandoned in New Mexico, the state’s Taxation and Revenue Department holds it until claimed by the rightful owner. Here’s how to check if you’re entitled to abandoned property.
In New Mexico, abandoned property can be anything from cash to payroll checks to safety deposit boxes and a range of other assets. Property can become “abandoned” for a variety of reasons. Often, the property becomes abandoned after someone dies, moves, or changes jobs, according to the state’s Taxation and Revenue Department (TRD). Property can also become abandoned when someone simply forgets about it.
Currently, TRD says it’s holding about $330 million in unclaimed property. Last year, more than $14 million worth was claimed, but there’s still lots left unclaimed.
How to check and claim property if you are a rightful owner
First, you must see if you are the owner of any unclaimed property. You can do a nationwide search using your name at missingmoney.com. Alternatively, you can call New Mexico’s Taxation and Revenue Department at (505)-827-0668.
If you find out you may be the owner of unclaimed property, the next step is to file a claim. To help New Mexicans file, the state recently set up a new website. You can go to nmclaims.unclaimedproperty.com to file for the property.
For claims valued at $500 or less, you can file online, and the claim will be processed electronically. You’ll need info such as your name, birthday, and Social Security Number. While filling out the online form, you’ll also be asked a security question to help verify your identity.
For larger value claims, and claims involving deceased owners or multiple owners, you’ll have to fill out a pdf form and upload it to the site. You can also check the status of claims on the site.
People can still file written claims with the department at New Mexico Unclaimed Property PO Box 25123, Santa Fe NM 87504.
“The [Taxation and Revenue] Department is passionate about matching unclaimed property to its rightful owner. Cabinet Secretary Stephanie Schardin Clarke said in a news release. “This new website makes it easier than ever for New Mexicans to receive what’s rightfully theirs.”
Information about the unclaimed property is available in the “Individuals” menu at tax.newmexico.gov. To find information on the required documentation to file a claim, click here.