New Mexico unclaimed money totals are in the hundreds of millions, $268 million to be exact (as of Oct 2019). Their website has a lot of good information, but not a lot of resources for actually searching or claiming. The website does not highlight unclaimed property on its website. It can be difficult to locate. According to a report, the state takes in roughly $33 million in unclaimed cash and property each year, but is only able to return about $10 million. Hence, the state total grows nearly $20 million annually. The largest account belongs to Ralph Leite, a man from Las Cruces, NM who passed away nearly 20 years ago. His estate is worth over $600,000 and is waiting to be claimed.
How To Search For Unclaimed Property In New Mexico
Unlike most states, New Mexico does not offer a searchable database on their website. They share their database with MissingMoney.com and there you can search for unclaimed money. Simply put in your name using our search strategies and see if there is money or property owed to you. Their results show the name the account was under as well as any co-owners of the account. Also displayed is the property ID, last known address, property type and who reported it. The amount is not listed, but they do indicate whether the amount is over or under $100.
In order to claim unclaimed property in New Mexico you need to follow these specific instructions. MissingMoney.com will allow you to enter information online, but you must still submit a notarized claim form to the state. If the property is yours you must submit a copy of government issued ID, SS card, and proof you lived at the address listed. One of the more commonly reported properties are for individuals who passed away. If the claim you find is for a deceased loved one you must submit proof you are legally allowed to claim on their behalf.
New Mexico does also allow unclaimed money finders, but they call them locators. They have specific laws regarding these locators. If the property has been held for less than 48 months by the state, a licensed attorney is the only one who can assist in claiming. Also, in addition to an agreement with the claim owner, locators must submit a disclosure form to the state in order to be eligible to claim.