New Mexico Sitting on Millions in Unclaimed Property
Monday, April 9th, 2012New Mexico is holding lost funds worth millions of dollars in the form of savings bonds and many other forms of money. These forms of New Mexico unclaimed property is more of a burden as most of these bonds have matured and stopped earning interests.
The department of state treasury of New Mexico has accepted the fact that the pile of unclaimed money over the years has increased at an alarming rate. Despite the efforts of the state agencies, there has been no improvement in the number of people showing up to claim what is rightfully theirs. However, there has been certain improvements after the introduction of certain state initiatives like the “Unclaimed Savings Bond Act” that was passed in the year 2009. This act offers support to all the state run unclaimed property programs that deal with educating masses about the importance of lost property and their burden on the state agencies.