You can charge up to 35% as a New Jersey unclaimed money finder.
That is if the money has been located and you have an agreement before it has been turned over to the States unclaimed money division (good luck with that one).
If it has been held for twenty-four months or more, than you can charge up to 20%.
You cannot charge any fee if the money has not been held for at least twenty-four months, but you can charge 35% if you can get if before it it is turned over to the state.
Does that make sense?
Here, they are letting you charge more if it has been held for less time. Maybe Tony Soprano had something to do with it?
I think it would be easier to just focus on the 20% when it has been held for twenty-four months.
NEW JERSEY STATUTES ANNOTATED TITLE 46. PROPERTY SUBTITLE 6. PERSONAL PROPERTY ONLY CHAPTER 30B. UNCLAIMED PERSONAL PROPERTY ARTICLE 35. MISCELLANEOUS Current through L.2002, c. 74 46:30B-106. Unenforceable agreements
All agreements to pay compensation to locate, deliver, recover, or assist in the recovery of property reported under this chapter, made within 24 months after the date that the property is paid or delivered to the administrator, are void and unenforceable.
Agreements entered into any time after such 24-month period are valid only if the fee or compensation agreed upon is not more than 20% of the value of the property recovered, the agreement is in writing, signed by the apparent owner, and clearly sets forth the nature and value of the property and the value of the apparent owner’s share after the fee or compensation has been deducted.
Agreements entered into before the property was presumed abandoned are valid only if the fee or compensation [FN1] agreed upon is not more than 35% of the value, the agreement is in writing, signed by the apparent owner, and clearly sets forth the nature and value of the property and the value of the apparent owner’s share after the fee or compensation has been deducted.
However, nothing in this section shall be construed to prevent an owner from asserting at any time that an agreement to locate property is based upon an excessive or unjust consideration.
Click here for the complete New Jersey Unclaimed Money Finder Law
Click here is you would like to learn more about becoming an unclaimed money finder.
How up to date is your book and the sites information when it comes to the rules and reg. of each state? Looking to purchasing your book soon! Thanks
The rules and regulations as well as all of the links were updated in 2022.
What form(s) must be signed by an individual which authorizes me to represent him/her in a claim for escheated funds in the state of New Jersey?
I am working the New York data base. They are still clearing out business from August 5th. They run 70-75 days. Can you suggest any state/states that are more timely?
I greatly appreciate your starting me out in the finder business. I did poorly in internet marketing and when I found out that there is an entire industry devoted to false advertising that was enough . No more.
Cordially,
Arthur
Arthur,
Sorry, just seeing this now, it was buried in spam. I really only work in Ohio and California and they are just as long or longer. Take a look at some counties, especially in California and Ohio because they seem to be faster.
Hello
Could you please let me know where we can download NJ unclaimed funds database, just like California.
I’m not sure if NJ has it available to download like California does. The best thing to do would be to contact them directly.