New Mexico Unclaimed Property and Funds

What Is Unclaimed Property in New Mexico?

Unclaimed Property is money owed to people and companies that gets turned over to New Mexico when companies can't find people to pay it back. For example, if you move and you don't tell your utility company your new address, they don't know where to send your refund check. In this case they would turn the money over to New Mexico as Unclaimed Property. New Mexico would then hold it until you come and claim it. Some states take the money after a certain number of years, while some hold unclaimed funds indefinitely.

Here's the important thing - you could have free money waiting for you!

How Much Unclaimed Property Is New Mexico Holding?

Total Unclaimed Funds

Three Hundred Million Dollars

KOB 4 News, December 2021

State Population

2,096,829

according to the 2020 census

Average Claim Size

$715 to $1,430

per claim, if 1 in 5 to 1 in 10 residents have unclaimed assets

According to this December 2021 KOB 4 News article, the State of New Mexico is holding over Three Hundred Million Dollars in unclaimed funds.

Over Two Million people live in New Mexico, so that means New Mexico is holding over $143 per resident! Not every resident has unclaimed funds, so that means the average claim is much higher. Usually 1 in 5 to 1 in 10 people have unclaimed assets waiting for them, which would make New Mexico's average claim between $715 and $1,430.

What Are Some Common Examples of Unclaimed Property?

Some common examples of unclaimed propert include:.

  • Checking or savings accounts
  • Stocks
  • Uncashed dividends or payroll checks
  • Refunds
  • Utility security deposits
  • Contents of safe deposit boxes
  • Customer overpayments

Many times people forget they have accounts open with companies, or move companies that owe them money can't find their new address. For exampe, electric companies, natural gas companies, phone companies, and others often owe people money when they move, but can't find the person's new address to send them a check. After a certain time period the company must turn that money over the the state, and the state holds it until the owner comes to claim it. Approximately 1 out of every 10 people in the US have unclaimed money waiting for them, they just have to claim it.

How Do I Claim New Mexico Unclaimed Property?

You can search for and and claim unclaimed assets on the New Mexico's official webste.

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