Montana Code 72-3-918. Disposition of unclaimed assets — escheat
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72-3-918. Disposition of unclaimed assets — escheat. (1) If an heir, devisee, or claimant cannot be found, the personal representative shall distribute the missing person‘s share to the person’s conservator, if any, otherwise to the department of revenue to be deposited in the state escheat fund as provided in Title 72, chapter 14.
Terms Used In Montana Code 72-3-918
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)A person having any claim to a share deposited in the state escheat fund under the provisions of this code shall follow the procedures set out in Title 72, chapter 14, concerning escheated estates, to claim the share.