Every state has unclaimed property laws which declare money, property, and other assets to be abandoned after a period of three to five years of inactivity. Chapter 21 - Uniform Disclaimer of Property Interests Act. 15-1-15). You already receive all suggested Justia Opinion Summary Newsletters. (i) Person means any individual, business association, government or political subdivision or agency, corporation, public authority, estate, trust, two (2) or more persons having a joint or common interest, or any other legal or commercial entity whether such person is acting in his own right or in a representative capacity. 29-3-7). After the tax sale, 2 years must pass. 89-12-37. The lien attaches as of the date the personal property is placed in the leased space and the rental agreement shall contain a statement in bold type notifying the occupant of the existence of the lien and that the property stored in the leased space may be sold to satisfy the lien if the occupant is in default. I spent more than a decade sitting in courtooms every day as a court beat journalist. Payment or delivery of abandoned property to treasurer: (1) Except as otherwise provided in subsection (2) of this section, a person who is required to file a report under Section 89-12-23 shall pay or deliver to the Treasurer all abandoned property together with the report. Title 89 Real and Personal Property, Chap. (k) Utility means any person who owns or operates in 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. Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. You're all set! (2) The provisions of subsection (1) of this section shall not apply to property that is or may be presumed abandoned and subject to the custody of this state pursuant to any other provision of law containing a dormancy period different than that prescribed in subsection (1) of this section. Part 4: Uniform Disposition of Unclaimed Property Act . FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Holder relieved from liability upon payment or delivery of abandoned property to treasurer: (1) Upon the payment or delivery of property to the Treasurer, the state assumes custody and responsibility for the safekeeping of the property. Abandoned property is defined as personal property left by an owner who intentionally relinquishes all rights to its control. Mississippi Plane Coordinate System, Chapter 8. (2) The Treasurer shall approve all contracts entered into between two (2) or more persons whereby one (1) party to the contract agrees to furnish the other party with information concerning property reported to the Treasurer under this chapter.

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