N.J. Admin. Code § 17:18-1.2
The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise:
"Administrator" means the Treasurer of the State of New Jersey, any individual serving as the Acting Treasurer in the absence of the appointed Treasurer, and any State employee to whom the Treasurer has delegated the authority to administer the provisions of 46:30B-1 et seq. and to execute any pertinent documents.
"Apparent owner" means the person whose name appears on the records of the holder as the person entitled to property held, issued or owing by the holder.
"Constructive delivery" means unclaimed property which has been set apart and report of such received and accepted by the State without real transfer or a true conferring of real possession of the property by the holder.
1. This term includes all those acts which have been held by construction of law to be equivalent to acts of real delivery.
2. The conduct of the holder and State shall be such as to be consistent with the presumption that there has been a change in holder.
3. The date on which constructive delivery becomes effective is the postmarked date on the State's letter of acceptance to the holder required under 17:18-1.1(e)2.
"Good faith" means that payment or delivery was made in a reasonable attempt to comply with this chapter; that the person delivering or performing constructive delivery of the property was not a fiduciary then in breach of trust in respect to the property and had a reasonable basis for believing, based on the facts then known to him or her, that the property was abandoned for the purpose of this chapter; and there is no showing that the records pursuant to which the delivery was made did not meet the reasonable commercial standards of practice in the industry.
"Holder" means a person, wherever organized or domiciled, who is the original obligor indebted to another on an obligation.
"Holder's right to reimbursement" means that a holder has the right to be reimbursed from the proceeds of the sale of the contents of a safe deposit box or other safekeeping repository for lien charges and sale expenses.
1. If the sale is conducted by the State Treasurer, the State's sale expenses will be deducted from the proceeds prior to any reimbursement to the holder.
"Last known address" means a description of the location of the apparent owner sufficient for the purpose of determining which state has the right to escheat the abandoned property and the zip code of the apparent owners (creditors) last known address is sufficient.
"Lien charges" means the amount due to the holder for rental to the time of removal of contents, and costs of opening, repairing, and restoration.
"Owner" means a person, or the owner's legal representative, who is renting or leasing a safe deposit box, or other safekeeping repository, or otherwise has a legal or equitable interest in property subject to this chapter and includes, but is not limited to, a depositor in the case of a deposit, a beneficiary in the case of a trust other than a deposit in trust, and a creditor, claimant, or payee in the case of other property.
"Person" means an individual, business association, state or other government, governmental subdivision or agency, public corporation, public authority, estate, trust, two or more persons having a joint or common interest, or any other legal or commercial entity.
"Presumption of abandonment" means safe deposit box contents or other safekeeping repository contents are presumed abandoned if unclaimed by the owner for more than five years after the expiration of the lease, rental period, or other custodial agreement. (46:30B-45) .
"Safe" means a place for the storage and safekeeping of personal property.
"Safe deposit box" means vaults, boxes and receptacles used for the safekeeping of personal property, whether in a safe deposit company, bank, savings and loan association, or other safekeeping repository.
"Safe deposit company" means a corporation organized for the purpose of keeping, maintaining and renting to depositors safe deposit boxes for the safekeeping of personal property.
1. Depositors have exclusive access to the boxes, subject to the oversight and under the rules and regulations of the company.
"Sale expenses" are costs associated with a public auction, due to the holder if held pursuant to 17:14A-51 or due to the State if held under N.J.S.A. 46:30-69 and 72.1.
"State" means any state in the United States, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States.
"Tangible" property includes property having actual form and substance with intrinsic value which is able to be appraised for value. Examples of tangible property are jewelry, works of art, Silver Certificate Notes and rare coins.
"Repository" is a storeroom where things are placed for safekeeping.
N.J. Admin. Code § 17:18-1.2