Oregon Statutes 112.055 – Escheat
(1) If, after diligent search and inquiry that is appropriate to the circumstances, taking into account the value of the decedent‘s estate, no person takes under ORS § 112.025 to 112.045, the net intestate estate escheats to the State of Oregon.
Terms Used In Oregon Statutes 112.055
- Decedent: A deceased person.
- Intestate: Dying without leaving a will.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) If a devisee or a person entitled to take under ORS § 112.025 to 112.045 is not identified or found, the share of that person escheats to the State of Oregon, and the share must be delivered to the State Treasurer for deposit into the Unclaimed Property and Estates Fund and subject to claims under ORS § 116.253.
(3) If a devisee or a person entitled to take under ORS § 112.025 to 112.045 is not identified or found:
(a) The State Treasurer has the same preference as the missing devisee or person for the purpose of appointment as personal representative under ORS § 113.085;
(b) Title to property of the decedent that would vest in the missing devisee or person under ORS § 114.215 vests in the State Treasurer to hold for the benefit of the Unclaimed Property and Estates Fund and subject to claims under ORS § 116.253; and
(c) The State Treasurer has all of the rights of the missing devisee or person for the purposes of ORS chapters 111, 112, 113, 114, 115, 116 and 117, including but not limited to the following:
(A) The right to contest any will of the decedent under ORS § 113.075; and
(B) The right to information under ORS § 113.145. [1969 c.591 § 23; 2003 c.395 § 2; 2015 c.387 § 5; 2019 c.678 § 31; 2021 c.424 § 14]