Whenever the personal representative of an estate is unable to discover any living heirs or legatees of the decedent, the personal representative shall give notice to all heirs or legatees by publication in such newspaper or newspapers and for such time as the court or registrar may direct, but not less than once a week for three successive weeks, of the date of the hearing upon the personal representative’s final accounts or the date on which the personal representative’s closing statement will be approved if no objection is filed, which notice shall direct all claimants of a distributive share in the estate of the decedent to appear and present their claims at the hearing or in writing prior to the date on which the closing statement will be approved if no objection is filed; provided that the time allowed for presentation of claims shall be not less than ninety days after the first publication of the notice.

If no claims are presented within the prescribed time, or if such claims as may be allowed do not exhaust the personalty of the estate, any personal estate remaining after the settlement and approval of the final accounts of the personal representative, and the payment of such distributive shares as may be allowed by the court or registrar shall upon order of the court be transferred to the state director of finance by the personal representative.

The director shall cause to be sold at public auction all such personalty as is so transferred, except cash or bonds of the State.

The personal estate shall be disposed of as provided in chapter 523A.