Title 28 — Property
25 chapters · 384 sections in this title.
28 V.I.C. § 651 Short title
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This chapter may be cited as the Virgin Islands Uniform Unclaimed Property Act.
28 V.I.C. § 652 Definitions
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(1) As used in this chapter:(1) “Administrator” means the Lieutenant Governor of the Virgin Islands.(2) “Apparent owner” means a person whose name appears on the records of a holder as the person entitled to property held, issued, or owing by the holder.(3) “Business association”…
28 V.I.C. § 653 Presumptions of abandonment
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(a) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property:(1) traveler's check, 15 years after issuance;(2) money order, seven years after issuance;(3) stock or other equity interest in a business assoc…
28 V.I.C. § 654 Contents of safe deposit box or other safekeeping depository
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Tangible property held in a safe deposit box or other safekeeping depository in the Virgin Islands in the ordinary course of the holder's business and proceeds resulting from the sale of the property permitted by other law, are presumed abandoned if the property remains unclaimed…
28 V.I.C. § 655 Rules for taking custody
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(1) Except as otherwise provided in this chapter or by other statute of the Virgin Islands, property that is presumed abandoned, whether located in the Virgin Islands or another State, is subject to the custody of the Virgin Islands if:(1) the last known address of the apparent o…
28 V.I.C. § 656 Dormancy charge
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A holder may deduct from property presumed abandoned a charge imposed by reason of the owner's failure to claim the property within a specified time only if there is a valid and enforceable written contract between the holder and the owner under which the holder may impose the ch…
28 V.I.C. § 657 Burden of proof as to property evidenced by record of check or draft
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A record of the issuance of a check, draft, or similar instrument is prima facie evidence of an obligation. In claiming property from a holder who is also the issuer, the administrator's burden of proof as to the existence and amount of the property and its abandonment is satisfi…
28 V.I.C. § 658 Report of abandoned property
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(a) A holder of property presumed abandoned shall make a report to the administrator concerning the property. (b) The report must be verified and must contain:(1) a description of the property;(2) except with respect to a traveler's check or money order, the name, if known, and l…
28 V.I.C. § 659 Payment or delivery of abandoned property
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(a) Except for property held in a safe deposit box or other safekeeping depository, upon filing the report required by section 658, the holder of property presumed abandoned shall pay, deliver, or cause to be paid or delivered to the administrator the property described in the re…
28 V.I.C. § 660 Notice and publication of lists of abandoned property
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(a) The administrator shall publish a notice not later than November 30 of the year next following the year in which abandoned property has been paid or delivered to the administrator. The notice must be published in a newspaper of general circulation in the Virgin Islands. If a …
28 V.I.C. § 661 Custody by state; recovery by holder; defense of holder
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(a) In this section, payment or delivery is made in “good faith” if:(1) payment or delivery was made in a reasonable attempt to comply with this chapter;(2) the holder was not then in breach of a fiduciary obligation with respect to the property and had a reasonable basis for bel…
28 V.I.C. § 662 Crediting of dividends, interest, and increments to owner's account
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If property other than money is delivered to the administrator under this chapter, the owner is entitled to receive from the administrator any income or gain realized or accruing on the property at or before liquidation or conversion of the property into money. If the property wa…
28 V.I.C. § 663 Public sale of abandoned property
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(a) Except as otherwise provided in this section, the administrator, within three years after the receipt of abandoned property, shall sell it to the highest bidder at public sale at a location in the Virgin Islands which in the judgment of the administrator affords the most favo…
28 V.I.C. § 664 Deposit of funds
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(a) Except as otherwise provided by this section, the administrator shall promptly deposit in the General Fund of the Treasury of the Virgin Islands all funds received under this chapter, including the proceeds from the sale of abandoned property under section 663. The administra…
28 V.I.C. § 665 Claim of another State to recover property
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(a) After property has been paid or delivered to the administrator under this chapter, another State may recover the property if:(1) the property was paid or delivered to the custody of the Virgin Islands because the records of the holder did not reflect a last known location of …
28 V.I.C. § 666 Filing claim with administrator; handling of claims by administrator
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(a) A person, excluding another State, claiming property paid or delivered to the administrator may file a claim on a form prescribed by the administrator and verified by the claimant. (b) Within 90 days after a claim is filed, the administrator shall allow or deny the claim and …
28 V.I.C. § 667 Action to establish claim
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A person aggrieved by a decision of the administrator or whose claim has not been acted upon within 90 days after its filing may maintain an original action to establish the claim in the Superior Court of the Virgin Islands, naming the administrator as a defendant. If the aggriev…
28 V.I.C. § 668 Election to take payment or delivery
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(a) The administrator may decline to receive property reported under this chapter which the administrator considers to have a value less than the expenses of notice and sale. (b) A holder, with the written consent of the administrator and upon conditions and terms prescribed by t…
28 V.I.C. § 669 Destruction or disposition of property having no substantial commercial value; immunity from liability
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If the administrator determines after investigation that property delivered under this chapter 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 Virgin Isl…
28 V.I.C. § 670 Periods of limitation
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(a) The expiration, before or after the effective date of this chapter, 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 …
28 V.I.C. § 671 Requests for reports and examination of records
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(a) The administrator may require a person who has not filed a report, or a person who 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 …
28 V.I.C. § 672 Retention of records
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(a) Except as otherwise provided in subsection (b), a holder required to file a report under section 658 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…
28 V.I.C. § 673 Enforcement
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The administrator may maintain an action in the Virgin Islands or another State to enforce this chapter. The court may award reasonable attorney's fees to the prevailing party.
28 V.I.C. § 674 Interstate agreements and cooperation; joint and reciprocal actions with other States
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(a) 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 sect…
28 V.I.C. § 675 Interest and penalties
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(a) A holder who fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the administrator interest at the annual rate of nine percent on the property or value thereof from the date the property should have been reported, paid or delivere…
28 V.I.C. § 676 Agreement to locate property
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(a) 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 abandone…
28 V.I.C. § 677 Foreign transactions
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This chapter does not apply to property held, due, and owing in a foreign country and arising out of a foreign transaction.
28 V.I.C. § 678 Transitional provisions
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(a) An initial report filed under this chapter for property that was not required to be reported before the effective date of this chapter but which is subject to this chapter must include all items of property that would have been presumed abandoned during the 10-year period nex…
28 V.I.C. § 679 Rules
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The administrator may adopt rules necessary to carry out this chapter.
28 V.I.C. § 680 Uniformity of application and construction
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This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among States enacting it.
28 V.I.C. § 681 Severability clause
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If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the p…
28 V.I.C. § 682 Repealed. July 11, 2008, No. 6999, § 1, Sess. L. 2008, p. 57
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28 V.I.C. § 682 Statutes current through Act 9046 of the 2025 session of the 36th Legislature, including all code changes through October 25, 2025 Virgin Islands Code AnnotatedCopyright © 2026 All rights reserved.
28 V.I.C. § 683 Repealed. July 11, 2008, No. 6999, § 1, Sess. L. 2008, p. 57
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28 V.I.C. § 683 Statutes current through Act 9046 of the 2025 session of the 36th Legislature, including all code changes through October 25, 2025 Virgin Islands Code AnnotatedCopyright © 2026 All rights reserved.
28 V.I.C. § 684 Repealed. July 11, 2008, No. 6999, § 1, Sess. L. 2008, p. 57
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28 V.I.C. § 684 Statutes current through Act 9046 of the 2025 session of the 36th Legislature, including all code changes through October 25, 2025 Virgin Islands Code AnnotatedCopyright © 2026 All rights reserved.
28 V.I.C. § 685 Repealed. July 11, 2008, No. 6999, § 1, Sess. L. 2008, p. 57
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28 V.I.C. § 685 Statutes current through Act 9046 of the 2025 session of the 36th Legislature, including all code changes through October 25, 2025 Virgin Islands Code AnnotatedCopyright © 2026 All rights reserved.
28 V.I.C. § 686 Repealed. July 11, 2008, No. 6999, § 1, Sess. L. 2008, p. 57
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28 V.I.C. § 686 Statutes current through Act 9046 of the 2025 session of the 36th Legislature, including all code changes through October 25, 2025 Virgin Islands Code AnnotatedCopyright © 2026 All rights reserved.
28 V.I.C. § 687 Repealed. July 11, 2008, No. 6999, § 1, Sess. L. 2008, p. 57
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28 V.I.C. § 687 Statutes current through Act 9046 of the 2025 session of the 36th Legislature, including all code changes through October 25, 2025 Virgin Islands Code AnnotatedCopyright © 2026 All rights reserved.