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UNCLAIMED PROPERTY AT DEATH BY ESCHEAT
PURPOSE:
The Department of Military and Veterans Affairs, Division of Veterans
Healthcare Services and its NJ Veterans Memorial Home Facilities shall
comply with Chapter 162 of Public Law 1989. In cases where funds,
property or other assets are unclaimed at the time of the death of a
resident, and for whom there are no known heirs to these items the items
are retained by the facility.
NEW JERSEY STATUTE INSTITUTION AND AGENCIES - 30:6AA-14:
"Monies, choses in action and effects deposited by a resident in trust
with the veterans facility and unclaimed at the death of the resident,
dying intestate, shall be deemed to be the property of the veterans
facility. Such property shall be held in trust for three (3) years
following the death of the depositor, with power to invest the funds and
to use the income for the benefit of the residents as the Council and
the Commissioner may deem advisable.
Upon claim made within three (3) years following the death of the
depositor and sustained by legal proof, the sufficiency of which shall
be determined by the Council and the Commissioner, such property shall
be paid over to the claimant entitled thereto upon acknowledging,
executing and delivering, a proper release and discharge.
Such property remaining unclaimed three (3) years after the death of its
depositor shall be deemed to be the property and the subject to, the
absolute control and disposal of the veterans facility, to be used for
such purposes as the Council and the Commissioner may deem most
advisable."
PROCEDURE:
It will be the procedure of the Department of Military and Veterans
Affairs, Division of Veterans Healthcare Services and its New Jersey
Veterans Memorial Home Facilities to hold personal property (with little
or no intrinsic value as well as personal clothing for ninety (90) days
from the date of residents death. Following the ninety 90 days, the
personal property/clothing may be disposed of.
The facility shall make initial inquires as to the existence of heirs.
If after one year, there are no known heirs, the facility will transfer
any unclaimed assets from the RESIDENT'S FUND to a POSTHUMOUS ACCOUNT.
There it will remain during the second and third year of the required
three year period.
These funds, assets, etc., are to be held in trust by the facility and
if, during this three (3) year period, someone comes forth to contact
the facility concerning the unclaimed assets, and has legal proof of
right to ownership, or can prove that he/she is a rightful heir, an
Estate Settlement will be initiated and the estate will be paid
accordingly from the POSTHUMOUS ACCOUNT.
After a three (3) year period, if no one comes forth to claim legal
right to ownership, or proves to be a legal heir, such funds, and
assets, etc., will be transferred from the POSTHUMOUS ACCOUNT to the
WELFARE FUND and become the property of the facility to be used as
deemed appropriate.
Once the funds have been transferred to the WELFARE FUND, after the
three (3) year waiting period, no claim will be entertained from any
heirs to the estate.
BUSINESS OFFICE - 44-03-006
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