b. If the owner of the lost property does not reclaim it within 120 days of the commencement of reasonable efforts to return it:
Terms Used In New Jersey Statutes 46:30C-4
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- Personal property: includes goods and chattels, rights and credits, moneys and effects, evidences of debt, choses in action and all written instruments by which any right to, interest in, or lien or encumbrance upon, property or any debt or financial obligation is created, acknowledged, evidenced, transferred, discharged or defeated, in whole or in part, and everything except real property as herein defined which may be the subject of ownership. See New Jersey Statutes 1:1-2
(1) The owner of the premises where the property was found may claim title to buried or hidden lost property or to lost property which a trespasser found;
(2) The finder of the property may claim title to lost property in other cases.
c. If the owner of the premises or finder does not claim the lost property, and an action is not pending to determine rights to the property:
(1) Marketable property shall be sold by the clerk of the municipality in which it is located and the proceeds, less costs of sale shall be transmitted to the administrator of the “Uniform Unclaimed Property Act (1981)” (R.S.46:30B-1 et seq.), for deposit in the Unclaimed Personal Property Trust Fund established pursuant to the provisions of R.S.46:30B-74;
(2) Non-marketable property may be treated as abandoned.