Kansas Statutes 59-902. Disposition of proceeds
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Kansas Statutes 59-902
- 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. Source: OCC
- Legatee: A beneficiary of a decedent
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
Moneys deposited in the escheat proceeds suspense fund shall remain in such fund until ten (10) years after it shall have been first received, at which time it shall be paid into the state treasury and credited to the state general fund, provided no one in the meantime has established his or her right thereto as heir, devisee or legatee.