Title 70, Title 70

(1) The administrator may decline to receive property reported under this part that the administrator considers to have a value less than the expenses of notice and sale. (2) A holder, with the written consent of the administrator and upon conditions and terms prescribed by the a…

If the administrator determines after investigation that property delivered under this part has no substantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. An action or proceeding may not be maintained against the state or any …

(1) The expiration, before or after July 1, 1997, of a period of limitation on the owner's right to receive or recover property, whether specified by contract, statute, or court order, does not preclude the property from being presumed abandoned or affect a duty to file a report …

(1) The administrator may require a person that has not filed a report or a person that the administrator believes has filed an inaccurate, incomplete, or false report to file a verified report in a form specified by the administrator. The report must state whether the person is …

(1) Except as otherwise provided in subsection (2), a holder required to file a report under 70-9-808 shall maintain the records containing the information required to be included in the report for 10 years after the holder files the report unless a shorter period is provided by …

The administrator may maintain an action in this or another state to enforce this part. The court may award reasonable attorney fees to the prevailing party.

(1) The administrator may enter into an agreement with another state to exchange information relating to abandoned property or its possible existence. The agreement may permit the other state, or another person acting on behalf of a state, to examine records as authorized in 70-9…

(1) A holder that fails to report, pay, or deliver property within the time prescribed by this part shall pay to the administrator interest at the annual rate of 12% on the property or value of the property from the date the property should have been reported, paid, or delivered.…

(1) An agreement by an owner, the primary purpose of which is to locate, deliver, recover, or assist in the recovery of property that is presumed abandoned, is void and unenforceable if it was entered into during the period commencing on the date the property was presumed abandon…

This part does not apply to property held, due, and owing in a foreign country and arising out of a foreign transaction.

(1) An initial report filed under this part for property that was not required to be reported before July 1, 1997, but that is subject to this part must include all items of property that would have been presumed abandoned during the 10-year period next preceding July 1, 1997, as…

The administrator may adopt, pursuant to Title 2, chapter 4, rules necessary to carry out this part.

This part must be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this part among states enacting it.

(1) A security is presumed abandoned 3 years after: (a) except as provided in subsection (1)(b), the date a second consecutive communication sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States posta…

Real or immovable property consists of: (1) land; (2) that which is affixed to land; (3) that which is incidental or appurtenant to land; (4) that which is immovable by law.

Land is the solid material of the earth, whatever may be the ingredients of which it is composed, whether soil, rock, or other substance.

A thing is deemed to be affixed to land when it is: (1) attached to it by roots, as in the case of trees, vines, or shrubs; (2) imbedded in it, as in the case of walls; (3) permanently resting upon it, as in the case of buildings; or (4) permanently attached to what is thus perma…

Sluice boxes, flumes, hose, pipes, railway tracks, cars, blacksmith shops, mills, and all other machinery or tools used in working or developing a mine are to be deemed affixed to the mine.

A thing is deemed to be incidental or appurtenant to land when it is by right used with the land for its benefit, as in the case of a way or watercourse or of a passage for light, air, or heat from or across the land of another.

The names and classification of interests in real property have only such application to interests in personal property as is in this code expressly provided.

Estates in real property, in respect to the duration of their enjoyment, are either: (1) estates of inheritance or perpetual estates; (2) estates for life; (3) estates for years; (4) estates from year to year, quarter to quarter, month to month, week to week, day to day, and for …

Every estate of inheritance is a fee, and such estate, when not defeasible or conditional, is a fee simple or an absolute fee.

Estates tail are abolished, and every estate which would be at common law adjudged to be a fee tail is a fee simple and, if no valid remainder is limited thereon, is a fee simple absolute.

When a remainder in fee is limited upon any estate that would by the common law be adjudged a fee tail, the remainder is valid as a contingent limitation upon a fee and vests in possession on the death of the first taker without issue living at the time of the first taker's death…

Estates of inheritance and for life are called estates of freehold; estates for years and estates embraced by the provisions of 70-15-202(4) are chattels real; and estates at will are chattel interests but are not liable as such to sale on execution.

An estate during the life of a third person, whether limited to heirs or otherwise, is a freehold.

The absolute ownership of a term of years cannot be suspended for a longer period than the absolute power of alienation can be suspended in respect to a fee.

A future estate may be limited by the act of the party to commence in possession at a future day, either without the intervention of a precedent estate or on the termination by lapse of time or otherwise of a precedent estate created at the same time.

A reversion is the residue of an estate left by operation of law in the grantor or the grantor's successors or in the successors of a testator, commencing in possession on the determination of a particular estate granted or devised.

When a future estate, other than a reversion, is dependent on a precedent estate, it may be called a remainder and may be created and transferred by that name.

Subject to the rules of parts 1, 3, and 4 of chapter 1, parts 1 and 2 of this chapter, and part 1 of chapter 17: (1) a freehold estate, as well as a chattel real, may be created to commence at a future day; (2) an estate for life may be created in a term of years and a remainder …

A remainder may be limited on a contingency which, in case it should happen, will operate to abridge or determine the precedent estate, and every such remainder is to be deemed a conditional limitation.

When a remainder of an estate for life or for years is not limited on a contingency defeating or avoiding such precedent estate, it is to be deemed intended to take effect only on the death of the first taker or the expiration by lapse of time of such term of years.

When a remainder is limited to the heirs or heirs of the body of a person to whom a life estate in the same property is given, the persons who on the termination of the life estate are the successors or heirs of the body of the owner for life are entitled to take by virtue of the…

A general or special power of appointment does not prevent the vesting of a future estate limited to take effect in case such power is not executed.

A "power", as the term is used in this part, is an authority to do some act in relation to real property or to the creation or revocation of an estate in or a charge on the real property that the owner granting or reserving the power might personally perform for any purpose.

A power cannot be executed by any person not capable of disposing of real property.

A married person may execute a power during marriage without the concurrence of the spouse unless otherwise prescribed by the terms of the power.

A power can be executed only by a written instrument which would be sufficient to pass the estate or interest intended to pass under the power if the person executing the power were the actual owner.

The owner of land in fee has the right to the surface and to everything permanently situated beneath or above it.

The owner of a life estate may use the land in the same manner as the owner of a fee simple, except that the owner of the life estate may not do an act to the injury of the inheritance.

The owner of a life estate must keep the buildings and fences in repair from ordinary waste and must pay the taxes and other annual charges and a just proportion of extraordinary assessments benefiting the whole inheritance.

(1) A tenant for years or at will, unless the tenant is a wrongdoer by holding over, may occupy the buildings, take the annual products of the soil, and work mines and quarries open at the commencement of the tenancy. A tenant at will or for an indefinite term may cultivate and h…

A person having an estate in fee in remainder or reversion may maintain an action for any injury done to the inheritance, notwithstanding an intervening estate for life or years and although, after its commission, the person's estate is transferred and the person does not have an…

If a guardian, tenant for life or years, joint tenant, or tenant in common of real property commits waste of the property, any person aggrieved by the waste may bring an action against that person. The judgment in the action may be for treble damages.

A person who cuts down or carries off any wood, underwood, tree, or timber or girdles or otherwise injures any tree or timber on the land of another person, on the street or highway in front of any person's house or town or city lot, on cultivated grounds or on the commons or pub…