Missouri Laws 456.039 – Procedure by trustee with respect to unclaimed property
1. Any trustee holding such unclaimed property may file with the state treasurer a verified statement setting forth the reason or reasons why such property is presumed to be unclaimed, the efforts made to find or ascertain any heirs, legal representatives, successors or assigns of any beneficiary or beneficiaries to whom such property is distributable, a list of all instruments known to the trustee that pertain to the trust and their location, with copies of those that are in possession of the trustee, and any further facts causing the trustee to believe that the property is unclaimed, and transfer such property to the state treasurer, who shall issue his receipt therefor.
2. All property so received shall be credited to the escheat fund of the state of Missouri.
Terms Used In Missouri Laws 456.039
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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
- Property: includes real and personal property. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- Trustee: A person or institution holding and administering property in trust.