Title 66, Property

(a) Except as otherwise provided in § 66-29-113, and except for property held in a governmental plan, as that term is defined in 26 U.S.C. § 414, property held in a pension account or retirement account that qualifies for tax deferral under the income tax laws of the United State…

(1) Except as otherwise provided in § 66-29-113, and except for property described in § 66-29-106, property held in a governmental plan, as that term is defined in 26 U.S.C. § 414, and property held in a program described in Section 529A of the Internal Revenue Code (26 U.S.C. § …

(a) Except as otherwise provided in § 66-29-113, property held in an account established under title 35, chapter 7, is presumed abandoned if it is unclaimed by or on behalf of the minor on whose behalf the account was opened three (3) years after the later of:(1) The date a secon…

(a) The following property related to safe deposit boxes is presumed abandoned:(1) Any surplus amount resulting from the sale or disposal of safe deposit contents by banking institutions under § 45-2-907, if the proceeds cannot be credited to an existing customer account upon sal…

(a) Except as otherwise provided in § 66-29-113, a stored-value card other than a payroll card or a gift card is presumed abandoned five (5) years after the later of:(1) December 31 of the year in which the card is issued or additional funds are deposited into it;(2) The most rec…

(a) Except as otherwise provided in § 66-29-113, a security is presumed abandoned three (3) years after:(1) 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 S…

At the time an interest in property is presumed abandoned under this part, any other property right accrued or accruing to the apparent owner as a result of the interest, and not previously presumed abandoned, is also presumed abandoned.

(a) Property is not presumed abandoned if the apparent owner indicates an interest in the property during the applicable periods under this part. (b) Under this part, an indication of an apparent owner's interest in property includes:(1) A record communicated by the apparent owne…

(a) As used in this section, “death master file” means the federal social security administration death master file or other database or service that is at least as comprehensive as the death master file for determining that a person reportedly has died. (b) With respect to a lif…

If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft writing privileges for the beneficiary of the policy or contract, and the proceeds are retained by the insurance company or its agent under a suppl…

(1) Under this part:(1) The last known address of an apparent owner is any description, code, or other indication of the location of the apparent owner that identifies the state of residence, regardless of whether the description, code, or indication of location is sufficient to …

(1) The treasurer may take custody of property that is presumed abandoned, whether located in this state, another state, or in a foreign country if:(1) The last known address of the apparent owner, as shown on the records of the holder, is located in this state; or(2) The records…

(a) Except as otherwise provided in subsection (b), if records of a holder reflect multiple addresses for an apparent owner and if this state is the state of the most recently recorded address, this state may take custody of property presumed abandoned, whether located in this st…

(a) Except as otherwise provided in subsection (b), § 66-29-117, or § 66-29-118, the treasurer may take custody of property presumed abandoned, whether located in this state, another state, or a foreign country, if the holder is domiciled in this state, or is the state or a gover…

(1) Except as otherwise provided in §§ 66-29-117 — 66-29-119, the treasurer may take custody of property presumed abandoned, whether located in this or another state, if:(1) The transaction involving the property occurred in this state;(2) The holder is domiciled in a state that …

The treasurer may take custody of sums payable on a traveler's check, money order, or similar instrument presumed abandoned to the extent permissible under 12 U.S.C. §§ 2501 — 2503.

(1) When the treasurer asserts a right to custody of unclaimed property, the treasurer has the burden to prove:(1) The existence and amount of the property;(2) The property is presumed abandoned; and(3) The property is subject to the custody of the treasurer. (1) The existence an…

(a) A holder of property presumed abandoned and subject to the custody of the treasurer shall report in a record to the treasurer concerning the property. The report must be filed through an electronic medium in a manner prescribed by the treasurer. The treasurer may waive the re…

(a) The report required under § 66-29-123 must:(1) Be signed by or on behalf of the holder and verified as to its completeness and accuracy;(2) If filed electronically, be in a secure format approved by the treasurer;(3) Describe the property;(4) Except for the report of a travel…

(a) For the property held for the period of January 1, 2017, through December 31, 2017, the report under § 66-29-123 must be filed before May 1, 2018. For property held for the period of January 1, 2018, through June 30, 2019, the report under § 66-29-123 must be filed before Nov…

(1) A holder required to file a report under § 66-29-123 shall retain records for ten (10) years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is prescribed by rule of the treasurer. A holder may sat…

Property is reportable and payable or deliverable under this part even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment.

(a) Any holder of property not yet presumed abandoned under this part may enter into agreements as may be necessary to ascertain the whereabouts of the apparent owner; provided, that costs associated with such agreements must not be deducted from the property or charged to the ow…

(a) The notice under § 66-29-128 must contain a heading that reads substantially as follows: “Notice: The State of Tennessee requires us to notify you that your property may be transferred to the custody of the treasurer if you do not contact us within thirty (30) days after the …

(a) The treasurer shall give notice to an apparent owner that property presumed abandoned and that appears to be owned by the apparent owner is held by the treasurer under this part. The treasurer may prescribe by rule a minimum dollar value for items for which notice is sent. (b…

Unless otherwise prohibited by any law of this state, on request of the treasurer, each officer, agency, board, commission, division, and department of this state, any body, politic and corporate, created by this state for a public purpose, and each political subdivision of this …

(1) Under 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 the treasurer under this part; or(2) Made payment…

(a) A holder may deduct a dormancy charge from property required to be paid or delivered to the treasurer if:(1) A valid and enforceable contract between a holder and an apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property with…

(a) Except as otherwise provided in this section, upon filing a report under § 66-29-123, the holder shall pay or deliver to the treasurer the property described in the report. Property paid to the treasurer must be remitted through an electronic funds transfer as prescribed by t…

On payment or delivery of property to the treasurer under this part, the treasurer, as agent for the state, assumes custody and responsibility for the safekeeping of the property. A holder that pays or delivers property to the treasurer in good faith and who has complied with §§ …

(a) A holder that pays money to the treasurer under this part may claim reimbursement from the treasurer of the amount paid if the holder:(1) Paid the money in error; or(2) After paying the money to the treasurer, paid the money to a person the holder reasonably believed to be en…

If property other than money is delivered to the treasurer, the owner is entitled to receive from the treasurer income or gain realized or accrued on the property before the property is sold, including, if applicable, dividends, interest, or other increments. If the property was …

(a) The treasurer may decline to take custody of property reported under § 66-29-123 if the treasurer determines that:(1) The property has a value less than the estimated expenses of notice and sale of the property; or(2) Taking custody of the property would be unlawful. (1) The …

If the treasurer takes custody of property delivered under this part and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the treasurer may return the property to the holder…

(a) Expiration, before, on, or after July 1, 2017, 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 abandoned or affect the duty of a holder to f…

(a) Except as otherwise provided in § 66-29-154, not earlier than three (3) years after receipt of property that has been presumed abandoned, the treasurer may sell the property. (b) A sale under subsection (a) must be preceded by notice to the public of:(1) The date of the sale;…

(a) The treasurer shall sell or otherwise liquidate a security no sooner than thirty-two (32) months, but no later than thirty-six (36) months, after receiving the security and giving the apparent owner notice under § 66-29-130(b)(1) and (2) that the treasurer holds the security.…

A purchaser of property at a sale conducted by the treasurer under this part takes the property free of all claims of the owner, a previous holder, or a person making a claim through the owner or holder. The treasurer shall execute documents necessary to complete the transfer of …

(a) The treasurer, upon receiving military medals, shall hold and maintain the military medals until the original owner or the owner's respective heirs or beneficiaries can be identified and the military medal returned. (b) The treasurer shall not sell a military medal. (c) The t…

(a) Except as otherwise provided in this section, the treasurer shall deposit in the general fund of the state all funds received under this part, including proceeds from the sale of property under this part. (b) The treasurer shall maintain an account with an amount of funds the…

(1) The treasurer shall:(1) Record and retain the name and last known address of each person shown on a report filed under § 66-29-123 to be the apparent owner of the property delivered to the treasurer;(2) Record and retain the name and last known address of each insured or annu…

(1) Before making a deposit of funds received under this part to the general fund of the state, the treasurer may deduct administrative costs, including, but not limited to:(1) Expenses of custody and disposition of abandoned property;(2) Costs of mailing, publication, and any ot…

Property received by the treasurer under this part is held in custody for the benefit of the owner and is not owned by the state.

(a) If the treasurer knows that property held by the treasurer under this part is subject to a superior claim of another state, the treasurer shall:(1) Report, and pay or deliver, the property to the other state; or(2) Return the property to the holder so that the holder may pay …

(a) Property held by the treasurer under this part is subject to the right of another state to take custody of the property if:(1) The property was paid or delivered to the treasurer because the records of the holder did not reflect a last known address of the apparent owner in a…