Florida Statutes 717.1125 – Property held by fiduciaries under trust instruments
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 717.1125
- Fiduciary: A trustee, executor, or administrator.
- Owner: means a person, or the person's legal representative, entitled to receive or having a legal or equitable interest in or claim against property subject to this chapter; a depositor in the case of a deposit; a beneficiary in the case of a trust or a deposit in trust; or a payee in the case of a negotiable instrument or other intangible property. See Florida Statutes 717.101
- Person: means an individual; estate; business association; corporation; firm; association; joint adventure; partnership; government or governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. See Florida Statutes 717.101
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Florida Statutes 717.101
- Trust instrument: means a trust instrument as defined in…. See Florida Statutes 717.101
All intangible property and any income or increment thereon held in a fiduciary capacity for the benefit of another person under a trust instrument is presumed unclaimed unless the owner has, within 2 years after it has become payable or distributable, increased or decreased the principal, accepted payment of principal or income, communicated concerning the property, or otherwise indicated an interest as evidenced by a memorandum or other record on file with the fiduciary. This section does not relieve a fiduciary of his or her duties under the Florida Trust Code.