§ 1270 - Deceased owners; multiple claimants
§ 1270. Deceased owners; multiple claimants
(a) If the treasurer holds unclaimed property in the name of a deceased owner, the treasurer may deliver the property as follows:
(1) In the case of an open estate, to the administrator or executor.
(2) In the case of a closed estate and the unclaimed property is valued at less than $5,000.00, in accordance with the probate court decree of distribution.
(3) In the absence of an open estate or probate court decree of distribution, and the unclaimed property is valued at less than $5,000.00 to the surviving spouse of the deceased owner, or, if there is no surviving spouse, then to the next of kin according to section 551 of Title 14.
(4) In all other cases where the treasurer holds property in the name of a deceased owner, a probate estate shall be opened by the claimant, or other interested party, in order to determine the appropriate distribution of the unclaimed property. Where an estate is opened solely to distribute unclaimed property under this section, the probate court may waive any filing fees.
(b) If the treasurer holds unclaimed property valued at $250.00 or less which more than one person owns, the treasurer may deliver the property as follows:
(1) If the property has been listed on the treasurer's website for less than one year, a proportionate share to each of the persons who owns the property and who files a claim.
(2) If the property has been listed on the treasurer's website for a year or more, to the first person who files a claim and who owns at least a share of the property. (Added 2005, No. 161 (Adj. Sess.), § 1; 2009, No. 13, § 2; No. 55, § 10, eff. June 1, 2009.)