Posted By: Starter
Escheatment and Levies - 07/23/14 07:56 PM
Can an account with a court levy be escheated in NJ?
Posted By: joser
Re: Escheatment and Levies - 07/29/14 08:05 PM
You have an encumbered account. If memory serves - levies are generally good for 2 years but read the document. I found that by reaching out to the server they either - release the levy, request the funds, or extend the time period with a new one. Short answer, a levy supercedes escheatment rules - just make sure the levy is valid.
Posted By: CarolCarol
Re: Escheatment and Levies - 07/02/15 05:56 PM
What is the time frame a bank has to comply with a turn over order from the State of New Jersey Department of the Treasury Division of Taxation relative to a levy. I always thought we needed to comply upon receipt.