The State Treasurer shall execute all documents necessary to complete the transfer of ownership. The name, if known, and last-known address, if any, of each person appearing from the records of the holder to be the owner of property of the value of Fifty Dollars ($50.00) or more presumed abandoned under the Uniform Unclaimed Property Act; 2. Communicated in writing with the banking or financial organization concerning the property; 3. Any sale held under this section must be preceded by a single publication of notice, at least three (3) weeks in advance of sale in a legal newspaper of general circulation in the county where the property is to be sold, the county of residence of the holder and the county of the last-known address of the owner. . No fees, ever, New quotes when prices drop automatically. Nothing in this act shall be construed as in any manner impairing or affecting the light of parties to create liens by special contract or agreement, nor shall it in any manner affect or impair other liens arising at common law in equity, or by any statute of this state. Well also help you find the best deals on. The property owner can have the vehicle towed from the premises or the property owner may take steps to, transfer ownership of the vehicle to themselves, Of course, homes and vehicles arent the only possessions that may be left behind by their owners. The State Treasurer may postpone the reporting date upon written request by any person required to file a report. D. Unless the State Treasurer considers it to be in the best interest of the state to do otherwise, all securities presumed abandoned under Section 655 of this title and delivered to the State Treasurer must be held for at least two (2) years before the State Treasurer may sell them. B. Mineral interests which have generated intangible personal property may be presumed by the district court to be abandoned and subject to the provisions that apply to mineral interests covered by Section 658.1 of this title and Sections 271 through 277 of Title 84 of the Oklahoma Statutes if the court determines that the mineral interests should have been reported to the State Treasurer but were not so reported as required by the Uniform Unclaimed Property Act. Property Chapter 13 Uniform Unclaimed Property Act. (b) Subject to subsection (d) of this section, any sum payable on a money order or similar written instrument, other than a third-party bank check, that has been outstanding for more than seven (7) years after its issuance is presumed abandoned unless the owner, within seven (7) years, has communicated in writing with the issuer concerning it or otherwise indicated an interest as evidenced by a memorandum or other record on file prepared by an employee of the issuer. The State Treasurer may budget and expend monies from the fund for the purpose of making payment to persons, firms, or corporations who are regularly engaged in the business of notifying states about property which may be subject to the provisions of unclaimed property statutes of those states. State Board for Property and Casualty Rates. State means any state, district, commonwealth, territory, insular possession, or other area subject to the legislative authority of the United States; 17. JavaScript seems to be disabled in your browser. Under certain circumstances, a squatter who lives on a West Virginia property for 10 continuous years could claim ownership of it. The State Treasurer shall send a copy of the report required by this section to the Attorney General, to the district attorney of the county in which the land is located, and to the county clerk of the county in which the land is located, and the clerk shall maintain the list for public viewing. This form conforms to applicable state statutory law. (d) For purposes of this act, the application of an automatic premium loan provision or other nonforfeiture provisions contained in an insurance policy does not prevent a policy from being matured or terminated under subsection (a) of this section if the insured has died or the insured or the beneficiary of the policy otherwise has become entitled to the proceeds thereof before the depletion of the cash surrender value of a policy by the application of those provisions. (g) Commencing two (2) years after the effective date of this act, every change of beneficiary form issued by an insurance company under any life or endowment insurance policy or annuity contract to an insured or owner who is a resident of the state must request the following information: (1) the name of each beneficiary, or if a class of beneficiaries is named, the name of each current beneficiary in the class; (3) the relationship of each beneficiary to the insured.Title 60, Chap. 6, 199, Publication and Distribution of Act. When you need Oklahoma Abandoned Personal Property Law, don't accept anything less than the USlegal brand . C. The running of the seven-year period of abandonment ceases immediately upon the occurrence of a communication described in subsection A of this section. There is hereby created in the State Treasury a revolving fund for the State Treasurer to be designated the Unclaimed Property Clearinghouse Fund. D. The holder of an ownership interest under Section 655 of this title shall deliver a duplicate certificate or other evidence of ownership if the holder does not issue certificates of ownership to the State Treasurer. For items left in a rental unit, any property left with the landlord by the former tenant may be considered abandoned. If you need to locate your abandoned property, you can do so via the, Oklahoma State Treasurers Unclaimed Property Program, , whose purpose is to return the unclaimed or abandoned property to its rightful owner.. The State Treasurer may delegate all necessary authority to act in the State Treasurers behalf to such persons, firms or corporations to enforce the provisions of the Uniform Unclaimed Property Act. D. The provisions of subsection C of this section shall apply to all abandoned property held by any federal, state or local government or governmental subdivision, agency, entity, officer or appointee thereof, at the time of enactment, or at any time thereafter, regardless of when such property became or becomes presumptively abandoned. A statement that if proof of claim is not presented by the owner to the holder and the right of the owner to receive the property is not established to the satisfaction of the holder before April 20, or, in the case of property reported by life insurance companies, before October 20, the property will be placed not later than May 1, or in the case of property reported by life insurance companies, not later than November 1, in the custody of the State Treasurer and all further claims must thereafter be directed to the State Treasurer. Intangible property distributable in the course of a dissolution of a business association which remains unclaimed by the owner for more than one (1) year after the date specified for final distribution is presumed abandoned. A statement that, if satisfactory proof of claim is not presented by the owner to the holder by the date specified in the published notice, the property will be placed in the custody of the State Treasurer and all further claims must be directed to the State Treasurer. Last-known address means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail; 11. It is a crucial piece of information to consider if you believe there is some unclaimed money with your name on it. Any demand, savings, or matured time deposit with a banking or financial organization, and any funds paid toward the purchase of a share, a mutual investment certificate, or any other interest in a banking or financial organization is presumed abandoned, unless the owner, within five (5) years has: 1. The report must be verified and must include: 1. You must have JavaScript enabled in your browser to utilize the functionality of this website. USLegal has the lenders!--Apply Now--. When not writing about cars, they can be found working on short stories, reading, illustrating, hiking, or practicing photography. Possession of the Self-Service Storage Facility -Abandonment or Surrendering of Occupants Possessions. D. Not later than March 1, or in the case of property reported by life insurance companies, not later than September 1, of the year immediately following the report required by Section 661 of this title, the State Treasurer shall mail a notice to each person whose last-known address is listed in the report and who appears to be entitled to property of the value of Fifty Dollars ($50.00) or more presumed abandoned under the Uniform Unclaimed Property Act and any beneficiary of a life or endowment insurance policy or annuity contract for whom the State Treasurer has a last-known address. Undistributed Dividends and Distributions of Business Associations. . Find the solutions to your Oklahoma landlord tenant law problems here with our full guide to the Oklahoma Landlord Tenant Act. Outstanding Sums Presumed Abandoned. 60-658.2. "Self-service storage facility" means any real property designed and used for the purpose of renting or leasing individual storage space to occupants who are to have access to such facility for the purpose of storing and removing personal property. Unclaimed Property Determination of Amount Payment of Amounts in Excess. The owner of a self-service storage facility shall not be liable for damages sustained by an occupant, if any, alleged to result from action taken by the owner to prevent access to the self-service storage facility after the occupant has committed an act of default pursuant to the rental agreement. The Oklahoma unclaimed money program is known as OK Treasure. Mineral Interest in Land in Oklahoma. b. otherwise indicated an interest as evidenced by a memorandum or other record on file prepared by an employee of the banking or financial organization and if the banking or financial organization communicates in writing with the owner with regard to the property that would otherwise be abandoned under this subsection at the address to which communications regarding the other relationship regularly are sent. B. UNCLAIMED PROPERTY ACT; MODIFYING DEFINITIONS; SPECIFYING CONDITIONS FOR PRESUMPTION OF ABANDONED . E. A stock or other intangible ownership interest enrolled in a plan that provides for the automatic reinvestment of dividends, distributions, or other sums payable as a result of the interest shall be subject to this section, except that the period of abandonment shall be fifteen (15) years. In this case, someone else may lay claim to the property by filing an, Everything you need to know about Section 8 Housing in Tulsa. Last-known address means that address provided by the occupant in the latest rental agreement or the address provided by the occupant in a subsequent written notice of a change of address; 3. Such property shall not be presumed to be abandoned if the holder has sent a statement or other business communication concerning such property to the owner by first-class mail and the statement or other business communication has not been returned for inability to make delivery to the addressee. Get started now - select insurance you want to put on auto-pilot: This app is great, but the customer service is even better! 7. If any future dividend, distribution, or other sum payable to the owner as a result of the interest is subsequently not claimed by the owner, a new period of abandonment commences and relates back to the time a subsequent dividend, distribution, or other sum became due and payable. Rental agreement means any written agreement or lease which establishes or modifies the terms, conditions, rules, or any other provisions concerning the use and occupancy at a self-service storage facility and which contains a notice stating that all articles stored under the terms of such agreement will be sold or otherwise disposed of if no payment has been received for a continuous thirty-day period; and. Nov. 1, 1998. Oklahoma Landlord Tenant Law. The state outlines the following as necessary for making a valid claim: : The claim-maker must be present and use the property as though they were the lawful owner (e.g. All of the agents are amazingly nice and knowledgeable. Mary Y. is in charge of the states abandoned property and does so through the Unclaimed Property Program, which seeks to return unclaimed property to its rightful owner. In the case of a deposit, increased or decreased its amount or presented the passbook or other similar evidence of the deposit for the crediting of interest; 2. (b) Property is payable or distributable for the purposes of this act notwithstanding the owners failure to demand the property or to present an instrument or document required to receive payment of the property. In the case of the contents of a safe deposit box or other safekeeping repository or of other tangible personal property, a description of the property and the place where it is held, which may be inspected by the State Treasurer, and any amounts, including offsets for drilling costs and rent, owing to the holder; 4. The State Treasurer is authorized to develop procedures for the implementation of the Uniform Unclaimed Property Act. Rental Agreement Lien on Personal Property at Self-Storage Facility Lien Disclosure of Lienholders. (a) A credit memo issued in the ordinary course of an issuers business which has a value of more than Fifty Dollars ($50.00) and remains unclaimed by the owner for more than five (5) years after becoming payable or distributable is presumed abandoned. Whenever property other than money is paid or delivered to the State Treasurer under the Uniform Unclaimed Property Act, the owner is entitled to receive from the State Treasurer dividends, interest, or other increments realized or accruing on the property at or before liquidation or conversion thereof into money. If the occupant abandons or surrenders possession of the self-service storage facility and leaves household goods, furnishings, fixtures, or any other personal property in the self-service storage facility, the owner may take possession of the property, and if, in the judgment of the owner, the property has no ascertainable or apparent value, the owner may dispose of the property without any duty of accounting or any liability to any party. Owned other property to which the provisions of paragraph 1, 2 or 3 of this subsection apply and if the banking or financial organization communicates in writing with the owner with regard to the property that would otherwise be presumed abandoned under this subsection at the address to which communications regarding the other property are regularly sent; or. B. The clerk shall also report to the board of county commissioners that the report has been received, and note the receipt in the minutes of the meeting, so the public can be informed. Relief From Liability by Payment or Delivery. If seven (7) dividends, distributions, or other sums are not paid during the presumptive period, the period continues to run until there have been seven (7) dividends, distributions, or other sums that have not been claimed by the owner. Unclaimed Refund Presumed Abandoned. What should I do with abandoned personal property in Oklahoma? A. C. Abandoned property that consists of any stock or other intangible ownership interest enrolled in a plan that provides for the automatic reinvestment of dividends, distributions, or other sums payable as a result of the interest, may be retained by the holder or paid or delivered to the State Treasurer at the option of the holder. The nature and identifying number, if any, or description of the property and the amount appearing from the records to be due, except that items of value under Fifty Dollars ($50.00) each must be reported in the aggregate; and. Title 575. Notice and Publication of Lists of Abandoned Property. Where a rental agreement, as defined in Section 2 of this act, is entered into between the owner and the occupant, the owner of a self-service storage facility and his heirs, executors, administrators, successors, and assigns have a lien upon all personal property located at the self-service storage facility for rent, labor, or other charges, present or future, in relation to the personal property and for expenses necessary for its preservation or expenses reasonably incurred in its sale or other disposition pursuant to this act. If the owner establishes the right to receive the abandoned property to the satisfaction of the holder before the property has been delivered, or it appears that for some other reason the presumption of abandonment is erroneous, the holder need not pay or deliver the property to the State Treasurer, and the property will no longer be presumed abandoned. Authority and Responsibility for Control and Management of Unclaimed Property Fund. This program does, however, primarily deal with unclaimed money in the form of checks, money orders, royalties, etc, so it may be harder to locate vehicles, homes, and the like. of the Oklahoma Statutes or the Self-Service Storage Facility Lien Act, Section 191 et seq. Simply download the app, fill out a short questionnaire, and in as little as 45-seconds Jerry will have compared dozens of competitive quotes from 50+ trusted insurance providers to find you the best deals possible. Income Accruing After Payment or Delivery. The mailing of notice by first-class mail to the last-known address of the owner by the holder shall constitute compliance with this subsection and, if done, no further act on the part of the holder shall be necessary. No. The State Treasurer may decline the highest bid and reoffer the property for sale if in the judgment of the State Treasurer the bid is insufficient. (a) Subject to subsection (d) of this section and except as hereinafter provided, any sum payable on a travelers check that has been outstanding for more than fifteen (15) years after its issuance is presumed abandoned unless the owner, within fifteen (15) years, has communicated in writing with the issuer concerning it or otherwise indicated an interest as evidenced by a memorandum or other record on file prepared by an employee of the issuer. Whether youre a landlord, property owner, or squatter, knowing the legality of getting rid of or taking possession of abandoned property is useful. F. Reports filed by a holder shall remain confidential except for that information required to be subject to public inspection pursuant to the Uniform Unclaimed Property Act. Where more than one person is an owner, the property shall not be presumed abandoned unless it has remained unclaimed by all of its owners for the periods hereinafter prescribed; 15. C. Unless the State Treasurer considers it to be in the best interest of the state to do otherwise, all securities, other than those presumed abandoned under Section 655 of this title, delivered to the State Treasurer must be held for at least one (1) year before the State Treasurer may sell them. Domicile means the state of incorporation of a corporation and the state of the principal place of business of an unincorporated person; 6. Unclaimed Property Division Oklahoma State Treasurer 9520 N. May Ave., Lower Level Oklahoma City , OK 73120 (405) 521-4273 Office Hours: 9:00 am to 5:00 pm Mon. Nor does it solve any problem. Any sum payable on a check, certified check, cashiers check, draft, or similar instrument, except those subject to Section 651.1 of this title, on which a banking or financial organization is directly liable, which has been outstanding for more than five (5) years after it was payable or after its issuance if payable on demand, is presumed abandoned, unless the owner, within five (5) years, has communicated in writing with the banking or financial organization concerning it or otherwise indicated an interest as evidenced by a memorandum or other record, on file, prepared by an employee thereof. 2014 Oklahoma Statutes Title 60. Any such person who, pursuant to a statutory requirement, filed a bond or bonds pertaining to such abandoned property with the State Treasurer may also deduct an amount equivalent to that part of the bond premium attributable to such abandoned property. Property Act ; MODIFYING DEFINITIONS ; SPECIFYING CONDITIONS for PRESUMPTION of abandoned!. 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