Unclaimed Utility Deposits and Escrow Funds in New Mexico: How to Find and Claim What You’re Owed

Many people in New Mexico move, switch utilities, sell a home, or change apartments without realizing they might have money left behind in the form of unclaimed utility deposits or mortgage escrow refunds.

This guide explains, in plain language, how these refunds usually work in New Mexico, how to check if there is money in your name, and how to claim it through the proper official channels.

HowToGetAssistance.org is an independent information site, not a government agency or utility provider. You cannot claim money or submit forms through this site, but you can use this guide to understand the process and contact the right official offices.

What Are Unclaimed Utility Deposits and Escrow Funds?

Utility deposits in New Mexico

When you start service with a gas, electric, water, or internet provider, the company may charge a security deposit. This is common if:

• You are a new customer
• You have limited or no credit history
• You have had late payments in the past

Typically:

• The utility holds your deposit while you are a customer.
• After a period of on-time payments, the deposit may be credited back to your account or refunded.
• If you close your account, any remaining deposit minus unpaid charges is supposed to be refunded to you.

If the company cannot reach you (for example, you moved and did not update your address), the refund may eventually be turned over to the State of New Mexico as unclaimed property.

Escrow funds in New Mexico

If you have or had a mortgage on a home in New Mexico, your lender may have set up an escrow account. This account typically holds money to pay:

• Property taxes
• Homeowners insurance
• Sometimes, mortgage insurance or other required fees

There are two common ways escrow refunds can become unclaimed:

1. After mortgage payoff or refinance
   When you pay off or refinance a loan, any extra money in your escrow account is supposed to be returned to you.

2. Overpayments or account changes
   If your taxes or insurance drop, the lender may determine there is an escrow surplus that should be refunded.

If the mortgage company cannot contact you or a check goes uncashed, these funds may also be sent to the State of New Mexico as unclaimed property.

How Unclaimed Property Works in New Mexico

New Mexico, like most states, has unclaimed property laws that require businesses to hand over dormant funds after a set time. This typically includes:

• Utility deposits and credits
• Closed bank accounts
• Uncashed checks
• Escrow balances and mortgage refunds
• Insurance payouts
• Other types of forgotten or unclaimed funds

In New Mexico, these funds are held by the state’s unclaimed property office, usually operated by the New Mexico Taxation and Revenue Department or a similar state-level office.

Key points:

• The money still belongs to you (or your heirs).
• There is usually no deadline to claim it, although some processes may be easier if done promptly.
• You generally do not have to pay a fee to claim your own money when going through the official state process.

Step-by-Step: How to Check for Unclaimed Utility Deposits and Escrow Funds in New Mexico

You do not need to remember exactly which company owed you money. The main place to start is usually the New Mexico unclaimed property office.

1. Gather basic information

Before you search, it helps to have:

• Full legal name (include middle initial or previous names)
• Previous last names (for example, before marriage or divorce)
• Past addresses in New Mexico
• Approximate years you lived or had service there

This makes it easier to recognize whether a listed item really belongs to you.

2. Search the official New Mexico unclaimed property database

New Mexico typically offers an online unclaimed property search on an official state website. To find the correct site:

• Search online for “New Mexico unclaimed property official site” or
  “New Mexico Taxation and Revenue unclaimed property”.
• Verify you are on a .gov domain or obviously official state site.

Once on the official site, you usually:

1. Enter your last name (and first name, if requested).
2. Review the list of possible matches.
3. Check whether the name and last known address match your past information.

Look especially for entries labeled as:

• Utility credit or utility deposit
• Mortgage escrow, escrow refund, or mortgage company
• Or listings from known providers (for example, your electric, water, or mortgage company)

Common Types of Utility and Escrow Listings You Might See

Below is a simplified comparison of what you might find in New Mexico’s unclaimed property system and how to respond:

How to File a Claim for Unclaimed Money in New Mexico

Once you find a listing that appears to be yours, the next step is to submit a claim to the official New Mexico unclaimed property office.

The details can change over time, but the general process is usually:

1. Start your claim on the official state site

On the official New Mexico unclaimed property page, you can typically:

1. Select the property you believe is yours.
2. Choose an option like “File a Claim” or “Claim This Property.”
3. Provide your current contact information.

You may be able to submit part of the claim online, but some claims require printing, signing, and mailing forms, depending on the value and type of property.

2. Gather required documents

The exact documents vary, but for utility deposits and escrow funds, you are often asked for:

Basic identity documents:

• Government-issued photo ID
  (driver’s license, state ID, or passport)
• Social Security number or partial SSN
  (usually entered on the form, sometimes not required as a document)

Proof of address or ownership (past or present):

• Old utility bills showing your name and address
• Old mortgage statements
• Property tax bills or closing documents if claiming escrow tied to a home
• Lease agreements (for rentals with utility accounts in your name)
• Bank statements showing payments to the utility or mortgage company (if needed)

For name changes:

• Marriage certificate
• Divorce decree
• Court order for legal name change

If you are filing on behalf of a deceased relative, you will typically need:

• Death certificate
• Proof of relationship (such as a birth certificate, will, or legal heirship papers)
• Sometimes letters testamentary or similar estate documents, if you are the official representative

The state’s claim form usually lists what is required. If something is unclear, you can call the New Mexico unclaimed property office using the phone number on the official state site.

3. Submit your claim package

Depending on the instructions given on the official site, you may:

• Upload documents online,
• Mail a printed claim form plus copies of supporting documents to the state office, or
• In rare cases, visit a state office in person.

Make sure you:

• Follow the instructions exactly (signatures, notarization, copies vs. originals)
• Keep copies of everything you send
• Note the date you submitted the claim

What Happens After You File a Claim?

Processing times can vary based on:

• The number of claims the office is handling
• Whether your claim is straightforward or requires extra verification
• Whether they must ask for additional documents

Typically, you can expect:

1. Review by the unclaimed property staff
   They verify your identity and confirm that the funds truly belong to you.

2. Request for more information (if needed)
   If something is missing or unclear, the office may send a letter, email, or call you.

3. Approval or denial notice

   • If approved, you usually receive a check from the State of New Mexico.
   • If denied, the notice will often explain the reason and may give you a way to submit more information or appeal.

Some states offer an online status check for claims. If New Mexico provides this, the instructions should be posted on the official unclaimed property website or included in your claim confirmation.

Common Reasons Claims Get Delayed or Denied

Understanding frequent issues can help you avoid problems:

• Name mismatch
  The name on the record may not match your current legal name because of marriage, divorce, or errors.
  ➤ Solution: Submit clear proof of name changes.

• Insufficient proof of address or ownership
  If you cannot show that you lived at the address or owned the property tied to the claim, review may stall.
  ➤ Solution: Look for old bills, tax documents, closing paperwork, or leases.

• Missing signatures or incomplete forms
  Unsigned or partially completed claim forms may be returned.
  ➤ Solution: Carefully check all required fields and signature lines.

• Claim filed by someone without legal authority
  For deceased owners, a relative without proper estate documents might file a claim that gets denied.
  ➤ Solution: Contact the probate court or a qualified legal professional if you are unsure about your authority.

If your claim is denied, you can typically contact the New Mexico unclaimed property office to ask what additional documentation might resolve the issue. Some situations may require legal advice from a licensed attorney, especially in disputes between heirs or co-owners.

Can You Still Contact the Utility or Lender Directly?

In some cases, especially if only a short time has passed, it may be useful to:

• Call your former utility company (electric, gas, water, etc.)
• Call your mortgage lender or servicer

Ask if they:

• Still hold your deposit or escrow refund, or
• Have already turned it over to the State of New Mexico

However, once funds are legally transferred as unclaimed property, companies typically cannot pay you directly anymore. At that point, the state unclaimed property office is usually the only channel to claim the money.

How Long Do You Have to Claim Unclaimed Deposits or Escrow Funds?

New Mexico’s unclaimed property system is generally designed so that:

• Funds do not expire for the rightful owner.
• You can usually file a claim many years later as long as you can prove you are the correct person.

Even so, it is often easier to claim:

• Sooner rather than later, when you may still have access to helpful documents.
• While memories of previous addresses, loan numbers, and companies are fresher.

Protecting Yourself: Avoiding Scams and Fee-Based “Finders”

When people learn they might have unclaimed money, they sometimes become targets for scams or high-fee services.

Here are key ways to protect yourself:

Verify you’re on an official channel

• Look for a “.gov” domain or clear indication that the site belongs to the State of New Mexico.
• Confirm phone numbers through a recognized government directory or by calling the main number for the New Mexico Taxation and Revenue Department and asking to be transferred to the unclaimed property unit.

Be cautious of:

• Companies or individuals who contact you first claiming they found money in your name and want a large percentage fee to help you get it.
• Requests for upfront payments to release your funds.
• Websites that are hard to identify as official but ask for sensitive information.

While some “finder” services operate legally, many consumers are able to:

• Use the state’s official unclaimed property search themselves, and
• File a claim directly at no cost through official government offices.

To avoid mistakes, do not send:

• Original documents unless instructed by a clearly official state office and you are comfortable with the process.
• Full Social Security numbers or ID copies to unverified organizations.

What If You Don’t Find Anything in New Mexico?

If your search in New Mexico shows no results but you believe there should be money:

You might consider:

1. Checking other states
   If you lived, worked, or had utilities in other states, check the unclaimed property office for each of those states.

2. Double-checking name variations
   Try:

   • Maiden names
   • Hyphenated names
   • Common misspellings of your name

3. Contacting past providers directly
   Ask your former utility companies, mortgage servicer, or landlords whether they show a past deposit or escrow surplus, and whether it has already been sent to a state unclaimed property program.

4. Reviewing old paperwork
   Look through:

   • Closing documents from mortgage payoffs or refinances
   • Old utility account statements
   • Rental agreements that mentioned deposits

These may reveal proof of a refund that was owed, which you can then investigate further with the appropriate company or state office.

Key Takeaways for New Mexico Consumers

• Unclaimed utility deposits and escrow funds in New Mexico are usually handled through the state unclaimed property office, not the original company.
• You can typically search your name for free on the official New Mexico unclaimed property website and then follow instructions to file a claim.
• Be prepared to show:
  • Photo ID
  • Proof of address or property ownership
  • Name change documents, if applicable
• Claims may take some time to process, and you may be asked for additional documents.
• Watch out for scams and always confirm you are dealing with an official state office before sharing personal information.

HowToGetAssistance.org does not process claims and is not an official agency, but you can use the information above to confidently take your next steps through New Mexico’s official unclaimed property channels and follow up directly with any relevant utility or mortgage companies as needed.