The New Mexico Taxation & Revenue Department is urging residents to check if they have any unclaimed property held by the state. With $390 million in abandoned assets available, individuals can easily claim their share through a straightforward process. The department has already paid out 6,414 claims totaling $18.5 million this year.
"The Taxation and Revenue Department wants to reunite owners with their lost property," said Secretary Stephanie Schardin Clarke. She noted that the holiday season often brings financial stress, making it an ideal time to claim unclaimed property.
Unclaimed assets can result from various situations such as death, relocation, job changes, or simple forgetfulness. These assets include money, uncashed checks, safe deposit box contents, credit balances, security deposits, securities, and more.
Residents can search for and file claims at nmclaims.unclaimedproperty.com without any cost. For properties valued at $500 or less with a single owner, claimants need to provide personal information like name and Social Security Number and answer a security question for identity verification. Claims are processed electronically if the information matches.
For more complex claims involving multiple owners or higher values, a PDF form must be completed and submitted with documentation proving ownership or heir status. The department has up to 90 days to approve or deny a claim and an additional 30 days for payment once approved.
Further details about unclaimed property can be found on the department's YouTube channel or website. Inquiries can also be directed via email to unclaimed.property@tax.nm.gov.
Information from this article can be found here.
