New Jersey Statutes 46:30B-45. Presumption of abandonment
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 46:30B-45
- Holder: means a person, wherever organized or domiciled, who is the original obligor indebted to another on an obligation. See New Jersey Statutes 46:30B-6
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Owner: means a person having a legal or equitable interest in property subject to this chapter or the person's legal representative and includes, but is not limited to, a depositor in the case of a deposit, a beneficiary in the case of a trust other than a deposit in trust, and a creditor, claimant, or payee in the case of other property. See New Jersey Statutes 46:30B-6
- Property: means tangible property described in R. See New Jersey Statutes 46:30B-6
- State: means any state in the United States, district, commonwealth, territory, insular possession, or any other area subject to the jurisdiction of the United States. See New Jersey Statutes 46:30B-6
46:30B-45. Presumption of abandonment. All property held in a safe deposit box or any other safekeeping repository in this State in the ordinary course of the holder‘s business and proceeds resulting from the sale of the property permitted by other law, which remain unclaimed by the owner for more than five years after the lease or rental period or other custodial agreement on the box or other repository has expired, are presumed abandoned.
L.1989, c.58, s.1; amended 2002, c.35, s.69.