Virginia Code 55.1-2518: Property held by courts.
Current as of: 2024 | Check for updates
|
Other versions
All intangible property held for the owner by any state or federal court that has remained unclaimed by the owner for more than one year after it became payable is presumed abandoned.
Terms Used In Virginia Code 55.1-2518
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
1983, c. 190, § 55-210.9:1; 1985, c. 294; 2000, cc. 733, 745; 2019, c. 712.