§8504 Disposition of Other Unclaimed Property

Summary

Officers in charge must store any unclaimed property found on Department premises. If the owner does not claim it within 90 days, the officer may sell, use, destroy, or otherwise get rid of it under rules made by the Secretary. If the property is kept, the owner, their legal representative, or next of kin can reclaim it by paying reasonable storage charges set by those rules. If the property is sold, the net money goes into the post fund and is used like other fund assets. The owner, their legal representative, or an assignee can get the sale money, minus expenses, if they claim it within five years of the finding. If the owner died without a will and left no creditors or next of kin, the sale proceeds will not be paid to that person’s legal representative.