Title 14, ESTATES OF DECEDENTS

14-5-503. NOTICE BY ADMINISTRATOR. (1) The administrator shall give notice to an apparent owner that property presumed abandoned and appearing to be owned by the apparent owner is held by the administrator under this chapter. (2) In providing notice under subsection (1) of this s…

14-5-504. COOPERATION AMONG STATE OFFICERS AND AGENCIES TO LOCATE APPARENT OWNER. Unless prohibited by law of this state other than this chapter, upon request of the administrator, each officer, agency, board, commission, division, and department of this state, any body politic a…

14-5-601. DEFINITION OF "GOOD FAITH." For the purposes of this part, payment or delivery of property is made in good faith if a holder: (1) Had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to …

14-5-602. DORMANCY CHARGE. (1) A holder may deduct a dormancy charge from property required to be paid or delivered to the administrator if: (a) A valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner’s failure to clai…

14-5-603. PAYMENT OR DELIVERY OF PROPERTY TO ADMINISTRATOR. (1) Except as otherwise provided in this section, upon filing a report required by section 14-5-401, Idaho Code, the holder shall pay or deliver to the administrator the property described in the report. (2) If property …

14-5-604. EFFECT OF PAYMENT OR DELIVERY OF PROPERTY TO ADMINISTRATOR. (1) Upon payment or delivery of property to the administrator under this chapter, the administrator as agent for the state assumes custody and responsibility for safekeeping the property. A holder that pays or …

14-5-605. RECOVERY OF PROPERTY BY HOLDER FROM ADMINISTRATOR. (1) A holder that under this chapter pays money to the administrator may file a claim for reimbursement from the administrator of the amount paid if the holder: (a) Paid the money in error; or (b) After paying the money…

14-5-606. PROPERTY REMOVED FROM SAFE DEPOSIT BOX. Property removed from a safe deposit box and delivered to the administrator under this chapter is subject to the holder’s right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the…

14-5-607. CREDITING INCOME OR GAIN TO OWNER’S ACCOUNT. If property other than money is delivered to the administrator, the owner is entitled to receive from the administrator income or gain realized or accrued on the property before the property is sold. Interest on money is not …

14-5-608. ADMINISTRATOR’S OPTIONS AS TO CUSTODY. (1) The administrator may decline to take custody of property reported under section 14-5-401, Idaho Code, if the administrator determines that: (a) The property has a value less than the estimated expenses of notice and sale of th…

14-5-609. DISPOSITION OF PROPERTY HAVING NO SUBSTANTIAL VALUE — IMMUNITY FROM LIABILITY. (1) If the administrator takes custody of property delivered under this chapter and later determines that the property has no substantial commercial value or that the cost of disposing of the…

14-5-610. PERIODS OF LIMITATION AND REPOSE. (1) Expiration before, on, or after July 1, 2024, of a period of limitation on an owner’s right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed ab…

14-5-701. PUBLIC SALE OF PROPERTY. (1) Subject to the provisions of section 14-5-702, Idaho Code, the administrator may sell property presumed abandoned. (2) Before selling property under subsection (1) of this section, the administrator shall give notice to the public of: (a) Th…

14-5-702. DISPOSAL OF SECURITIES. Securities listed on an established stock exchange must be sold at prices prevailing at the time of sale on the exchange. Other securities may be sold over the counter at prices prevailing at the time of sale or by any other method the administra…

14-5-703. RECOVERY OF SECURITIES OR VALUE BY OWNER. A person making a claim under this chapter is entitled to receive either the securities delivered to the administrator by the holder, if they still remain in possession of the administrator, or the proceeds received from the sal…

14-5-704. PURCHASER OWNS PROPERTY AFTER SALE. A purchaser of property at a sale conducted by the administrator under this chapter takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. The administrator shall execu…

14-5-705. MILITARY MEDAL OR DECORATION. (1) The administrator may not sell a medal or decoration awarded for military service in the armed forces of the United States. (2) The administrator, with such organization’s, agency’s, or entity’s consent, may deliver a medal or decoratio…

14-5-801. DISPOSITION OF MONEY RECEIVED. (1) All moneys received under this chapter, including the proceeds from the sale of property under section 14-5-701, Idaho Code, shall be deposited in the unclaimed property account. (2) Moneys in the unclaimed property account are subject…

14-5-802. ADMINISTRATOR TO RETAIN RECORDS OF PROPERTY. (1) The administrator shall: (a) Record and retain the name and last known address of each person shown on a report filed under section 14-5-401, Idaho Code, to be the apparent owner of property delivered to the administrator…

14-5-803. ADMINISTRATOR HOLDS PROPERTY AS CUSTODIAN FOR OWNER. Property received by the administrator under this chapter is held in custody for the benefit of the owner and is not owned by the state.

14-5-901. CLAIM OF ANOTHER STATE TO RECOVER PROPERTY. (1) If the administrator knows that property held by the administrator under this chapter is subject to a superior claim of another state, the administrator shall: (a) Report and pay or deliver the property to the other state;…

14-5-902. WHEN PROPERTY SUBJECT TO RECOVERY BY ANOTHER STATE. (1) Property held by the administrator under this chapter is subject to the right of another state to take custody of the property if: (a) The property was paid or delivered to the administrator because the records of …

14-5-903. CLAIM FOR PROPERTY BY PERSON CLAIMING TO BE OWNER. (1) A person claiming to be the owner of property held under this chapter or the proceeds from the sale thereof by the administrator may file a claim for the property on a form prescribed by the administrator. The claim…

14-5-904. WHEN ADMINISTRATOR MUST HONOR CLAIM FOR PROPERTY. (1) The administrator shall pay or deliver property to a claimant under section 14-5-903(1), Idaho Code, if the administrator receives a complete claim providing evidence sufficient to establish to the satisfaction of th…

14-5-905. ALLOWANCE OF CLAIM FOR PROPERTY. (1) If a claim is allowed under section 14-5-904(3), Idaho Code: (a) Except upon election of donation as authorized in paragraph (c) of this subsection, the administrator shall pay or deliver to the owner the property or pay to the owner…

14-5-906. ACTION BY PERSON WHOSE CLAIM IS DENIED. A person aggrieved by a denial of a claim by the administrator or whose claim has not been acted upon within the time provided in section 14-5-904(3), Idaho Code, may obtain a review as provided in section 67-5244, Idaho Code, by …

14-5-907. PAYMENT AND DELIVERY EXCLUSIVELY TO OWNER. (1) Except as provided in this section and notwithstanding any other provision of law to the contrary, including but not limited to the provisions of chapter 12, title 15, Idaho Code, the administrator shall pay or deliver prop…