BUSINESS OFFICE 44-02-010
UNCLAIMED PROPERTY AT DEATH BY ESCHEAT
The New Jersey Division of Veterans Healthcare Services (DVHS) requires each of the New Jersey Veterans Memorial Homes (VMH) to develop and implement policies and procedures to dispose of funds, property or other unclaimed assets of residents who die intestate.
The New Jersey Department of Military and Veterans Affairs (DMAVA) and its New Jersey Veterans Memorial Homes (VMH) shall comply with Chapter 162 of Public Law 1989, amended by L.1995, Chapter 152, Section 5, and L. 2002, Chapter 35, Section 52, effective July 1, 2002. In cases where funds, property or other assets are unclaimed at the time of the death of a resident, these laws shall determine the disposition of the deceased resident’s unclaimed property.
Intestate – means dying without a legal will; having made no legal will; or not disposed of by a legal will.
Escheat – means the power of a state to acquire title to property for which there is no owner. The most common reason that an escheat takes place is that an individual dies intestate, meaning without a valid will indicating who is to inherit his or her property, and without relatives who are legally entitled to inherit in the absence of a will.
New Jersey Statutes – Title 38A Military and Veterans Law 38A:3-6.16 – Unclaimed Property.
38A:3-6.16 - "Monies, choses [sic] in action and effects deposited by a member in trust with the veterans’ facility and unclaimed at the death of the member, 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 members as the Advisory Council of the veterans’ facility and The Adjutant General (TAG) may deem most 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 Advisory Council of the veterans’ facility and The Adjutant General (TAG), 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 of and the subject to the absolute control and disposal of the veterans’ facility, to be used for such purposes as the Advisory Council of the veterans’ facility and The Adjutant General (TAG) may deem most advisable."
Revised: June 2011