nebraska abandoned property statute

Section 69-1302 - Property held or owing by a banking or financial organization or business association; presumed abandoned; when. To claim any such fee if the property has not yet been abandoned, the finder shall disclose to the owner the nature, location, and value of the property, provide notice of when such property will be reported to the State Treasurer, if known, and provide notice that, upon receipt of the property by the State Treasurer, such property may be claimed by the owner from the State Treasurer free of charge. According to Nebraska landlord tenant law, the tenant has abandoned the property when he or she was absent from the property for a full rental period or 30 days . (B) Otherwise indicated an interest as evidenced by a memorandum or other record on file with the banking or financial organization and if the banking or financial organization corresponds in writing with the owner with regard to the property that would otherwise be abandoned under subdivision (d) of this section at the address to which correspondence regarding the other relationship regularly is sent. (f) Any funds or other personal property,tangible or intangible, removed from a safe deposit box or any other safekeeping repository or agency or collateral deposit box in this state on which the lease or rental period has expired due to nonpayment of rental charges or other reason, or any surplus amounts arising from the sale thereof pursuant to law, that have been unclaimed by the owner for more than five years from the date on which the lease or rental period expired. Information withheld from the general public concerning any aspect of unclaimed property shall only be disclosed to an apparent owner of the property, or to the escheat, unclaimed, or abandoned property administrators or officials of another state if that other state accords substantially reciprocal privileges to the State Treasurer. 2019 Nebraska Revised Statutes Chapter 69 - PERSONAL PROPERTY 69-1310 Property presumed abandoned; reports to State Treasurer; contents; filing date; . Abandoned Property State Laws Chart - Nolo Rev. (b) The report shall be verified and shall include: (1) Except with respect to traveler's checks and money orders, 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 any property presumed abandoned under the act; (2) In case of unclaimed funds of life insurance corporations, the full name of the insured or annuitant and his or her last-known address according to the life insurance corporation's records; (3) The nature and identifying number, if any, or description of the property and the amount appearing from the records to be due; (4) The date when the property became payable, demandable, or returnable, and the date of the last transaction with the owner with respect to the property; and. Nebraska's Unclaimed Property Laws - McGrath North (a) Between March 1 and March 10 of each year the State Treasurer shall cause notice to be published once in an English language legal newspaper of general circulation in the county in this state in which is located the last-known address of any person to be named in the notice. Except as otherwise provided by law, all intangible personal property held for the owner by any court, public corporation, public authority, or public officer of this state, or a political subdivision thereof, that has remained unclaimed by the owner for more than three years is presumed abandoned. Before making the deposit he or she shall record the name and last-known address of each person appearing from the holders' reports to be entitled to the abandoned property, the name and last-known address of each insured person or annuitant, and with respect to each policy or contract listed in the report of a life insurance corporation, its number, the name of the corporation, and the amount due. PHELPS COUNTY COURT - 3 - COMMENTS AND RECOMMENDATIONS (Concluded) All securities presumed abandoned under the act and delivered to the State Treasurer shall be held for at least three years before he or she sells them. Nebraska Statutes 69-1321. Abandoned property; State - LawServer ARTICLE 14 LANDLORD AND TENANT (a) UNIFORM RESIDENTIAL LANDLORD TENANT ACT Section. (h) Utility means any person who owns or operates within this state, for public use, any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas.Title 69, 69-1301. Uniform Disposition of Unclaimed Property Act. The record shall not be subject to public inspection or available for copying, reproduction, or scrutiny by commercial or professional locators of property presumed abandoned who charge any service or finders fee until twenty-four months after the names from the holders reports have been published or officially disclosed. (2) The unclaimed property records of the State Treasurer, the unclaimed property reports of holders, and the information derived by an unclaimed property examination or audit of the records of a person or otherwise obtained by or communicated to the State Treasurer may be withheld from the public. (a) Except as provided in section 69-1321, all abandoned property other than money, securities, bonds, or similar property delivered to the State Treasurer under the Uniform Disposition of Unclaimed Property Act shall be sold by him or her to the highest bidder at public sale in whatever city in the state affords in his or her judgment the most favorable market for the property involved. Source: OCC (2) Any holder that sells in this state its travelers checks, money orders, or other similar written instruments on which the holder is directly liable, or that provides such instruments to others for sale in this state, shall maintain a record of those instruments while they remain outstanding, indicating the state and date of issue for three years after the date the property is reportable. Intangible personal property held by court, public entities, or political subdivision; presumed abandoned; when. Failure to report property; State Treasurer; powers and duties; holder; duties. Nebraska Statutes 28-523. Littering of public and private property Every person who has filed a report under section 69-1310, or in the case of sums payable on travelers checks or money orders presumed abandoned under section 69-1302, shall pay or deliver to the State Treasurer all abandoned property specified in this report, except that, if the owner establishes his right to receive the abandoned property to the satisfaction of the holder within the time specified in section 69-1311, or if it appears that for some other reason the presumption of abandonment is erroneous, the holder need not pay or deliver the property, which will no longer be presumed abandoned, to the State Treasurer, but in lieu thereof shall file a verified written explanation of the proof of claim or of the error in the presumption of abandonment. Browse USLegal Forms largest database of85k state and industry-specific legal forms. All intangible property and any income or increment derived therefrom held in an individual retirement account, a retirement plan for self-employed individuals, or similar account or plan established pursuant to the internal revenue laws of the United States, which has not been paid or distributed for more than thirty days after the earliest of the following: (a) The actual date of distribution or attempted distribution; (b) the date contracted for distribution in the plan or trust agreement governing the account or plan; or. As used in the Uniform Disposition of Unclaimed Property Act unless the context otherwise requires: (a) Banking organization means any bank, trust company, savings bank (industrial bank, land bank, safe deposit company), or a private banker engaged in business in this state. (a) - Uniform Residential Landlord Tenant Act; Nebraska Revised Statutes Chapter 69, Article 23 - Deposition of Personal Property . Property presumed abandoned; reports to State Treasurer; contents; filing date; property accompany report; prevent abandonment, when; verification. Section 69-1310 - Property presumed abandoned; reports to State The record shall not be subject to public inspection or available for copying, reproduction, or scrutiny by commercial or professional locators of property presumed abandoned who charge any service or finders' fee until twenty-four months after the names from the holders' reports have been published or officially disclosed. He or she need not offer any property for sale if, in his or her opinion, the probable cost of sale exceeds the value of the property. (a) Every person holding funds or other property, tangible or intangible, presumed abandoned under the Uniform Disposition of Unclaimed Property Act shall report to the State Treasurer with respect to the property as hereinafter provided. Money otherwise payable according to the records of the corporation are deemed due and payable although the policy or contract has not been surrendered as required. Unclaimed property is generally defined as a liability a company owes to an individual or entity when a debt or obligation remains outstanding after a specified period of time. He or she need not offer any property for sale if, in his or her opinion, the probable cost of sale exceeds the value of the property. Section 69-1303 - Unclaimed funds held and owing by a life insurance corporation; presumed abandoned; when. As used in the Uniform Disposition of Unclaimed Property Act unless the context otherwise requires: (a) Banking organization means any bank, trust company, savings bank (industrial bank, land bank, safe deposit company), or a private banker engaged in business in this state. The five-year period from the return of official shareholder notifications or communications shall commence from the return of the notification or communication. The Nebraska Auditor of Public Accounts Office was created by the first territorial Legislature in 1855. (ii) on November 1, 1996, whichever occurs first, and on or before November 1 of each year thereafter, the State Treasurer shall transfer any balance in excess of an amount not to exceed five hundred thousand dollars from the separate trust fund to the permanent school fund. Unless the holder of the property is notified to the contrary within one hundred twenty days after filing the report required under section 69-1310, the State Treasurer or his or her designee shall be deemed to have elected to receive the custody of the property. UNIFORM DISPOSITION OF UNCLAIMED PROPERTY ACT - Casetext Agriculture while operating parimutuel betting is a business association, as contemplated by the Uniform Disposition of Unclaimed Property Act. Abandoned vehicle, defined. Mineral rights and proceeds; presumed abandoned; when. (d) The report shall be filed before November 1 of each year as of June 30 next preceding, but the report of life insurance corporations shall be filed before May 1 of each year as of December 31 next preceding. A one-time supplemental report shall be filed by life insurance corporations with regard to property subject to section 69-1307.05 before November 1, 2003, as of December 31, 2002, as if section 69-1307.05 had been in effect before January 1, 2003. Sign up for our free summaries and get the latest delivered directly to you. 69-1321. Read Section 69-1317 - Abandoned property; Unclaimed Property Trust Fund; record; professional finder's fee; information withheld; when; transfers; Unclaimed Property Cash Fund; created; investment, Neb. (c) A holder may not deduct any amount from mineral proceeds unless: (1) There is an enforceable written contract between the holder and the owner of the mineral proceeds pursuant to which the holder may impose a charge; (2) For mineral proceeds in excess of five dollars, the holder, no more than three months before the initial imposition of those charges, has mailed written notice to the owner of the amount of those charges at the last-known address of the owner stating that those charges will be imposed, but the notice provided in this section need not be given with respect to charges imposed before July 16, 1994; and. Information withheld from the general public concerning any aspect of unclaimed property shall only be disclosed to an apparent owner of the property or to the escheat, unclaimed, or abandoned property administrators or officials of another state if that other state accords substantially reciprocal privileges to the State Treasurer. Universal Citation: NE Code 69-1310 (2021) 69-1310. Stat. Most unclaimed property becomes abandoned as a result of a change . (a) The expiration of any period of time specified by statute or court order, during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or recovery of property, shall not prevent the money or property from being presumed abandoned property, nor affect any duty to file a report required by the Uniform Disposition of Unclaimed Property Act or to pay or deliver abandoned property to the State Treasurer. (2) The name and address of the person holding the property and any necessary information regarding changes of name and address of the holder. Unpaid wages, including wages represented by payroll checks owing in the ordinary course of the holders business which remain unclaimed by the owner for more than one year after becoming payable, are presumed abandoned. This entry offers readers with practical insight to the subject of abandoned, lost and unclaimed property in Nebraska, a general introduction to the legal issues relating to abandoned, lost and unclaimed property under Nebraska law and practice. (b) Any funds paid in this state toward the purchase of shares or other interest in a financial organization or any deposit that is not automatically renewable, including a certificate of indebtedness that is not automatically renewable, made therewith in this state, and any interest or dividends thereon, excluding any charges that may lawfully be withheld, unless the owner has within five years: (1) Increased or decreased the amount of the funds or deposit, or presented an appropriate record for the crediting of interest or dividends; or, (2) Corresponded in writing with the financial organization concerning the funds or deposit; or, (3) Otherwise indicated an interest in the funds or deposit as evidenced by a memorandum or other record on file with the financial organization; or, (4) Owned other property to which subdivision (b)(1), (2), or (3) applies and if the financial organization corresponds in writing with the owner with regard to the property that would otherwise be presumed abandoned under subdivision (b) of this section at the address to which correspondence regarding the other property regularly is sent; or. Abandoned Property - Nebraska | Encyclopedia of Law Property presumed abandoned; reports to State Treasurer; contents; filing date; property accompany report; prevent abandonment, when; verification. 2021 Nebraska Revised Statutes Chapter 69 - Personal Property 69-1310 - Property presumed abandoned; reports to State Treasurer; contents; filing date; property accompany report; prevent abandonment, when; verification. If specific property which is subject to the provisions of sections 69-1302 and 69-1305 to 69-1308 is held for or owed or distributable to an owner whose last-known address is in another state by a holder who is subjected to the jurisdiction of that state, the specific property is not presumed abandoned in this state and subject to sections 69-1301 to 69-1329 if: (a) It may be claimed as abandoned or escheated under the laws of such other state; and. Act, how cited. (f) This section is not applicable to sums payable on travelers checks or money orders presumed abandoned under section 69-1302. A professional finders' fee shall be limited to ten percent of the total dollar amount of the property presumed abandoned. You should check the State Laws for updates. (b) On or before November 1 of each year, the State Treasurer shall distribute any balance in excess of one million dollars from the Unclaimed Property Trust Fund to the permanent school fund. (d) Securities listed on an established stock exchange shall be sold at the prevailing prices on the exchange. The property must accompany the report unless excused by the State Treasurer for good cause. Worthless security is defined as a security whose cost of liquidation and delivery would exceed the value of the security on the date a report is due under the Nebraska Unclaimed Property Act. The State Treasurer may decline the highest bid and reoffer the property for sale if he or she considers the price bid insufficient. PDF Attestation Report of Phelps County Court January 1, 2021, Through Nebraska Revised Statute 79-3407 - NEBRASKA LEGISLATURE Make your practice more effective and efficient with Casetexts legal research suite. (e) Any sum payable on checks certified in this state or on written instruments issued in this state on which a banking or financial organization or business association is directly liable, including, by way of illustration but not of limitation, certificates of deposit that are not automatically renewable, drafts, money orders, and travelers checks, that, with the exception of money orders and travelers checks, has been outstanding for more than five years from the date it was payable, or from the date of its issuance if payable on demand, or, in the case of, (i) money orders, that has been outstanding for more than seven years from the date of issuance and. Abandoned property; State Treasurer; decline to accept; when; other payments or delivery authorized. (5) Had another relationship with the financial organization concerning which the owner has: (i) Corresponded in writing with the financial organization; or. For details, check your state's statute, listed below. (e) If the holder of property presumed abandoned under the act knows the whereabouts of the owner and if the owner's claim has not been barred by the statute of limitations, the holder shall, before filing the annual report, communicate with the owner and take necessary steps to prevent abandonment from being presumed. Lincoln Journal Star North Platte Telegraph Wednesday, March 25: Alliance Times-Herald Sidney Sun-Telegraph The Nebraska Treasurer's Unclaimed Property Division returned $13,663,918 in unclaimed property and paid 17,786 claims in 2019, up from 16,932 claims in 2018. (v) Had another relationship with the banking or financial organization concerning which the owner has: (A) Corresponded in writing with the banking or financial organization; or. (d) The interest or penalty or any portion thereof as imposed by subsections (a), (b), or (c) of this section may be waived or remitted by the State Treasurer for good cause shown. (b) Any sale held under this section shall be preceded by a single publication of notice thereof, at least three weeks in advance of sale in an English language newspaper of general circulation in the county where the property is to be sold. However, beginning with July 16, 1994, the cumulative amount of charges shall not exceed twelve dollars per year, and shall only be charged for a maximum of two calendar years. Unclaimed Property Law - Abandoned Property - USLegal This site is protected by reCAPTCHA and the Google, There is a newer version Nebraska Disposition of Unclaimed Property Law - USLegal You must have JavaScript enabled in your browser to utilize the functionality of this website. Abandoned property; State Treasurer; decline to accept; when; other payments or delivery authorized State Treasurer; rules and regulations; adopt. All holders have an obligation to report abandoned or unclaimed property to the state in order to maintain compliance with Nebraska's unclaimed property laws and regulations. this Statute. Marsh v . 77-1804 The lists of delinquent real property taxes are based on the information as submitted by each county treasurer the first week of February. Owner in another state; property not presumed abandoned; when. 76-1405. (adsbygoogle=window.adsbygoogle||[]).push({}), Need a Personal Loan? (c) A person who willfully fails to pay or deliver property to the State Treasurer as required under the act shall pay a civil penalty equal to twenty-five percent of the value of the property that should have been paid or delivered. Before the county sheriff may dispose of such property he or she shall submit a plan for disposing of such property to the county board for its approval. You can explore additional available newsletters here. (1) A motor vehicle is an abandoned vehicle: (a) If left unattended, with no license plates or valid In Transit stickers issued pursuant to the Motor Vehicle . Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Description Nebraska Abandoned Personal Property Law. Disposition of Personal Property Landlord and Tenant Act - Beran Law WORTHLESS SECURITIES. (5) Other information which the State Treasurer may prescribe by rule as necessary for the administration of the act. 69-1321 - Abandoned property; State Treasurer; decline to accept; when; other payments or delivery authorized. Universal Citation: NE Code 60-1901 (2021) 60-1901. Article 13 - DISPOSITION OF UNCLAIMED PROPERTY, UNIFORM DISPOSITION OF UNCLAIMED PROPERTY ACT, Section 69-1317 - Abandoned property; Unclaimed Property Trust Fund; record; professional finder's fee; information withheld; when; transfers; Unclaimed Property Cash Fund; created; investment, Section 69-1316 - Abandoned property; State Treasurer; sell; when; notice; title, Section 69-1318 - Person claiming interest in property delivered to state; claim; filing; directed to nonprofit organization, when. this Statute. Unless the holder of the property is notified to the contrary within one hundred twenty days after filing the report required under section 69-1310, the State Treasurer shall be deemed to have elected to receive the custody of the property. Title 69 Personal Property Terms, defined. Stat. The State Treasurer may postpone the reporting date upon written request by any person required to file a report. Stock, shareholding, or other intangible ownership interest; presumed abandoned; when. If such property is not bid upon at sale, or the county sheriff reasonably believes that such property has little or no sale value, he or she may dispose of such property. Other intangible property; presumed abandoned; when. Nebraska Legislature Intangible personal property distributable in voluntary dissolution; presumed abandoned; when. (1) On or after October 6, 1992, the State Treasurer shall periodically transfer any balance in excess of an amount not to exceed five hundred thousand dollars from the separate trust fund to the General Fund no less frequently than on or before November 1 and May 1 of each year, except that the total amount of all such transfers shall not exceed five million dollars. Nebraska Legislature Nebraska will no longer accept worthless securities . FEIN: 47-0491233. Any property that shall come into the possession of the county sheriff of any county by virtue of his or her office, the disposition of which is not otherwise provided for by law, and which appears to be abandoned or unclaimed, may be sold at auction or disposed of as provided in sections 69-1330 to 69-1332. Records concerning the social security number, date of birth, and last-known address of an owner shall be treated as confidential and subject to the same confidentiality as tax return information held by the Department of Revenue, except that the Auditor of Public Accounts shall have unrestricted access to such records. The county sheriff shall pay over to the county treasurer the proceeds of any sale authorized by sections 69-1330 to 69-1332, less the reasonable expenses of such sale. (b) No action or proceeding may be commenced by the State Treasurer with respect to any duty of a holder under the act more than seven years after the holder files a report for the period in which the duty arose. The record shall be available for public inspection during business hours. Abandoned vehicles ordered towed by Law Enforcement do not qualify for titles under Vehicles Towed from Private Property. Laws 1969, c. 611, 21, p. 2489; Laws 1992, Third Spec. 2020 Nebraska Revised Statutes Chapter 69 - Personal Property 69-1302 Property held or owing by a banking or financial organization or business association; presumed abandoned; . Any person holding intangible property presumed abandoned due to be reported with a cumulative value of fifty dollars or less in a single reporting year shall not be required to report the property in that year but shall report the property in any year when the property value or total report value exceeds fifty dollars. Upon the payment or delivery of abandoned property to the State Treasurer or upon payment or delivery of property to the State Treasurer pursuant to section 69-1321, the state shall assume custody and shall be responsible for the safekeeping thereof. (a) Any stock, shareholding, or other intangible ownership interest in a business association, the existence of which is evidenced by records available to the association, is resumed abandoned and, with respect to the interest, the association is the holder, if: (1) The interest in the association is owned by a person who for more than five years has not claimed a dividend, distribution, or other sum payable as a result of the interest or has not communicated with the association regarding the interest or a dividend, distribution, or other sum payable as a result of the interest, as evidenced by a memorandum or other record on file with the association prepared by an employee of the association; and. 2021 Nebraska Revised Statutes Chapter 60 - Motor Vehicles 60-1901 - Abandoned vehicle, defined. If the holder of property presumed abandoned under the act knows the whereabouts of the owner and if the owner's claim has not been barred by the statute of limitations, the holder shall . In the case of a credit memo, the amount presumed abandoned is the amount credited, as shown on the memo itself. The county treasurer shall hold such proceeds for a period of two years from the date of sale. (e) If the holder of property presumed abandoned under the act knows the whereabouts of the owner and if the owner's claim has not been barred by the statute of limitations, the holder shall, before filing the annual report, communicate with the owner and take necessary steps to prevent abandonment from being presumed.
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