7. (12-1148.10A; Parker Livestock v. F. For the purposes of this section, good faith means that: 1. Any mineral interest in land in Oklahoma shall be subject to escheat under the provisions of Sections 271 through 277 of Title 84 of the Oklahoma Statutes if it generates an intangible property interest which is presumed abandoned under the Uniform Unclaimed Property Act as provided in Sections 651 through 686 of this act or under similar laws of another state. The State Treasurer shall execute all documents necessary to complete the transfer of ownership. C. No owner of a self-service storage facility shall be liable for loss sustained by an occupant as a result of theft committed by a third party provided that ordinary care was exercised. The report must be verified and must include: 1. First are burdens or servitudes upon land which may be attached to other land as incidents or appurtenances. (f) Notwithstanding any other provision of law, if the company learns of the death of the insured or annuitant and the beneficiary has not communicated with the insurer within four (4) months after the death, the company shall take reasonable steps to pay the proceeds to the beneficiary. E. A stock or other intangible ownership interest enrolled in a plan that provides for the automatic reinvestment of dividends, distributions, or other sums payable as a result of the interest shall be subject to this section, except that the period of abandonment shall be fifteen (15) years. F. Reports filed by a holder shall remain confidential except for that information required to be subject to public inspection pursuant to the Uniform Unclaimed Property Act. B. Such property shall not be presumed to be abandoned if the holder has sent a statement or other business communication concerning such property to the owner by first-class mail and the statement or other business communication has not been returned for inability to make delivery to the addressee. A person who pays or delivers property to the State Treasurer in good faith is relieved of all liability to the extent of the value of the property paid or delivered for any claim then existing or which thereafter may arise or be made in respect to the property. Oklahoma Abandoned Property Self Storage Law. The State Treasurer shall be authorized to expend monies from the Unclaimed Property Clearinghouse Fund in payment of a reasonable fee not to exceed fifteen percent (15%) of the delivered funds to a person, firm, or corporation contracting with the State Treasurer providing information leading to the delivery of unclaimed property held by an out-of-state holder to the State Treasurer. Intangible property distributable in the course of a dissolution of a business association which remains unclaimed by the owner for more than one (1) year after the date specified for final distribution is presumed abandoned. Abandoned Property. Such payment shall not be made until the funds have been deposited with the Commission. Get started now - select insurance you want to put on auto-pilot: This app is great, but the customer service is even better! JavaScript seems to be disabled in your browser. The date when the property became payable, demandable or returnable, and the date of the last transaction with the owner with respect to the property. You must have JavaScript enabled in your browser to utilize the functionality of this website. Prohibition of Residential Use of Self-Storage Facility. C. Notwithstanding the provisions of subsection B of this section or any other provision of law, the expiration of any period of time specified by law during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or recovery of property shall not serve as a defense in any action or proceeding brought by or on behalf of the State Treasurer against any federal, state or local government or governmental subdivision, agency, entity, officer or appointee thereof, for the payment or delivery of any abandoned property to the State Treasurer pursuant to the Uniform Unclaimed Property Act or to enforce or collect any penalty provided by the Uniform Unclaimed Property Act. The names in alphabetical order and last-known address, if any, of persons listed in the report and entitled to notice within the county as specified in subsection A of this section; 2. If you need to locate your abandoned property, you can do so via the, Oklahoma State Treasurers Unclaimed Property Program, , whose purpose is to return the unclaimed or abandoned property to its rightful owner.. When you need Oklahoma Abandoned Personal Property Law, don't accept anything less than the USlegal brand . Universal Citation: 60 OK Stat 60-661 (2014) A. Who is in charge of abandoned property in Oklahoma? Title 60. B. Rental Agreement Lien on Personal Property at Self-Storage Facility Lien Disclosure of Lienholders. C. If the person holding property presumed abandoned and subject to custody as unclaimed property is a successor to other persons who previously held the property for the apparent owner or if the holder has changed his or her name while holding the property, the holder shall file with the report all known names and addresses of each previous holder of the property. 49. An owner shall have the right to take such action as may be required to prevent an occupant who has committed an act of default pursuant to the rental agreement from gaining access to the self-service storage facility or any specific location at which personal property is stored by an occupant. The State Treasurer shall be authorized to expend monies from the Unclaimed Property Clearinghouse Fund in payment of a reasonable fee not to exceed fifteen percent (15%) of the delivered funds to a person, firm, or corporation contracting with the State Treasurer providing information leading to the delivery of unclaimed property held by an out-of-state holder to the State Treasurer. . But before we explain what those are, let us first define what qualifies as an abandoned home in the Panhandle State. The expiration after September 1, 1991, of any period of time specified by contract, statute, or court order, during which a claim for money or property can be made or during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or to recover property, does not prevent the money or property from being presumed abandoned property or affect any duty to file a report or to pay or deliver abandoned property to the State Treasurer as required by the Uniform Unclaimed Property Act. A. Business association means a non-public corporation, joint-stock company, investment company, business trust, partnership, or association for business purposes of two or more individuals whether or not for profit, including a banking organization, financial organization, insurance company, or utility; 5. If a banking or financial organization has sent a statement or other business communication concerning such property to the owner by first-class mail and the statement or other business communication has not been returned for inability to make delivery to the addressee, the property shall not be presumed to be abandoned. If the occupant abandons or surrenders possession of the self-service storage facility and leaves household goods, furnishings, fixtures, or any other personal property in the self-service storage facility, the owner may take possession of the property, and if, in the judgment of the owner the property has an ascertainable or apparent value, such property left with the owner for a period of thirty (30) days or longer shall be conclusively determined to be abandoned and as such the owner may dispose of said property in any manner which he deems reasonable and proper without liability to the occupant or any other interested party; however, before the property is disposed of, the owner shall provide written notice to the occupant, by certified mail with return receipt requested, and the owner may dispose of the property fifteen (15) days after the owner receives the return receipt document or fifteen (15) days after the owner receives a communication from the United States Post Office that the written notice was not claimed by the addressee, whichever period occurs first. The State Treasurer is hereby authorized to obtain information as necessary from the Oklahoma Tax Commission to determine the last-known address of any such person. The nature and identifying number, if any, or description of the property and the amount appearing from the records to be due, except that items of value under Fifty Dollars ($50.00) each must be reported in the aggregate; and. View Title. D. Not later than March 1, or in the case of property reported by life insurance companies, not later than September 1, of the year immediately following the report required by Section 661 of this title, the State Treasurer shall mail a notice to each person whose last-known address is listed in the report and who appears to be entitled to property of the value of Fifty Dollars ($50.00) or more presumed abandoned under the Uniform Unclaimed Property Act and any beneficiary of a life or endowment insurance policy or annuity contract for whom the State Treasurer has a last-known address. F. The Uniform Unclaimed Property Act shall not apply to patronage dividends, capital credits, customer deposits or non-negotiated payment checks held or owing by cooperative electric power or telephone associations organized under Sections 437 and 438.1 of Title 18 of the Oklahoma Statutes, rural water, sewer, gas and solid waste management districts organized under Section 1324.1 of Title 82 of the Oklahoma Statutes, or agricultural cooperative marketing or supply associations organized under Section 361 of Title 2 of the Oklahoma Statutes; when such associations are domiciled in Oklahoma. Easiest way to compare and bundle your car and home insurance, for free, How to find cheap home and auto insurance in Oklahoma. Income Accruing After Payment or Delivery. Abandonment or surrender of nonresidential rental property - Disposition of personal property of tenant - Notice - Storage costs - Liability of landlord - Application of proceeds of sale. A person holding property, tangible or intangible, presumed abandoned and subject to custody as unclaimed property under the Uniform Unclaimed Property Act shall report to the State Treasurer concerning the property as provided in this section. The claim of the apparent owner is not barred by the statute of limitations; and. Museum means institution which is located in this state and operated by a nonprofit corporation or a public agency primarily for educational, scientific, historic preservation or aesthetic purposes, and which owns, borrows, cares for, exhibits, studies archives or catalogues property. 3. Holder means a person, wherever organized or domiciled, who is: a. in possession of property belonging to another. Insurance company means an association, corporation, fraternal or mutual benefit organization, whether or not for profit, which is engaged in providing insurance coverage, including accidental, burial, casualty, credit life, contract performance, dental, fidelity, fire, health, hospitalization, illness, life (including endowments and annuities), malpractice, marine, mortgage, surety, and wage protection insurance; a. money, checks, drafts, deposits, interest, dividends, and income; b. credit balances, customer overpayments, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances; c. stocks and other intangible ownership interests in business associations; d. monies deposited to redeem stocks, bonds, coupons, and other securities, or to make distributions; e. amounts due and payable under the terms of insurance policies; and. may reasonably be considered abandonedprovided there is no evidence to suggest the rightful owner intends to retrieve it themselves, that is. Well also help you find the best deals on. Oklahoma has approximately $585 million in unclaimed property and pays more than a thousand property claims every month. The Oklahoma Real Estate Commission shall cause the Self-Service Storage Facility Lien Act to be reproduced in a publication together with other statutes of the State of Oklahoma as are ordinarily reproduced by the Commission for distribution to the public. Such actuarial or other experience or statistics as may be available to show the frequency of the discovery of missing persons or their unknown heirs; 3. Neither the holder nor the State Treasurer shall be liable for more than the value of the property, determined as of the time of its payment or delivery to the State Treasurer, if the holder paid or delivered the property to the State Treasurer in good faith. In the case of unclaimed funds of Fifty Dollars ($50.00) or more held or owing under any life or endowment insurance policy or annuity contract, the full name and last-known address of the insured or annuitant and of the beneficiary according to the records of the insurance company holding or owing the funds; 3. If no address is listed or if the address is outside this state, the notice must be published in the county in which the holder of the abandoned property has his or her principal place of business within this state, or in a newspaper which the State Treasurer believes most likely to be seen by the owner of the property or by heirs of the owner. The name, if known, and last-known address, if any, of each person appearing from the records of the holder to be the owner of property of the value of Fifty Dollars ($50.00) or more presumed abandoned under the Uniform Unclaimed Property Act; 2. Otherwise indicated an interest in the property as evidenced by a memorandum or other record on file prepared by an employee of the banking or financial organization; 4. State Board of Examiners of Psychologists. C. The rental agreement shall contain a provision directing the occupant to disclose any lienholders with an interest in property that is or will be stored in a self-service storage facility. Oklahoma Unclaimed Property Laws; Oregon Unclaimed Property Laws; Pennsylvania Unclaimed Property Laws; Rhode Island Unclaimed Property Laws; South Carolina Unclaimed Property Laws South Dakota Unclaimed Property Laws Tennessee Unclaimed Property Laws Texas Unclaimed Property Laws Oklahoma City, Oklahoma 73105 | 800-522-8031 . OK Landlord Tenant Law: Oklahoma Statutes Title 41 - Landlord and Tenant (41-1 to 41-135) If you have any questions or need legal advice, you can ask a local landlord tenant lawyer online. 60-658.2. Sifting through Oklahomas laws regarding abandoned vehicles can be a bit of a hassle, but there are rough guidelines as to how abandoned vehicles may be dealt with, either by law enforcement or private property owners. 2. Note: This summary is not intended to be an all inclusive discussion of abandoned property law, but does include basic provisions. The State Treasurer shall cause notice to be published not later than March 1, or in the case of property reported by life insurance companies, September 1, of the year following the report required by Section 661 of this title at least once each week for two (2) consecutive weeks in a legal newspaper of general circulation in the county in this state in which is located the last-known address of any person to be named in the notice. Im borrowing my roommate's car for the weekend while shes out of town but I cant figure out how to open the gas tank to refuel. In applying the Fifty Dollar ($50.00) limitation, individual credit memos to the same owner shall not be aggregated. The property has a value of Fifty Dollars ($50.00) or more. If, at the time provided for delivery in Section 663 of this title, any penalty or forfeiture in the payment of dividends, distributions, or other sums payable as a result of the property would result from its delivery to the State Treasurer, the time for delivery shall be extended until the time when no penalty or forfeiture would result. Nothing in this act shall be construed as in any manner impairing or affecting the light of parties to create liens by special contract or agreement, nor shall it in any manner affect or impair other liens arising at common law in equity, or by any statute of this state. For purposes of subsection A of this section, property includes interest and dividends. D. Automatically renewable time deposits shall be subject to this section, except that automatically renewable time deposits shall be presumed abandoned fifteen (15) years following the expiration of the initial time period of the time deposit unless, during that period the owner has: 1. Property Chapter 13 Uniform Unclaimed Property Act. Unpaid wages, including wages represented by unpresented payroll checks, owing in the ordinary course of the holders business which remain unclaimed by the owner for more than one (1) year after becoming payable are presumed abandoned. How do you open the gas tank on the Ford Edge 2015? . C. The provisions of subsection A of this section shall apply to all property held at the time of the effective date of this act, or at any time thereafter, regardless of when such property became or becomes presumptively abandoned. Financial organization means a savings and loan association, building and loan association, or credit union; 7. Created By . C. A holder who has delivered property, including, but not limited to, a certificate of an ownership interest in a business association, other than money to the State Treasurer pursuant to the Uniform Unclaimed Property Act may reclaim the property if still in the possession of the State Treasurer, without paying any fee or other charge, upon filing proof that the owner has claimed the property from the holder. Nor does it solve any problem. C. A holder may not impose with respect to property described in subsection A of this section any charge due to dormancy or inactivity or cease payment of interest unless: 1. Relief From Liability by Payment or Delivery. Upon presumed abandonment of the automatically renewable time deposit, the holder shall report the presumed abandonment to the State Treasurer and may, at the holders option, either retain the property or pay or deliver it to the State Treasurer. The State Treasurer is authorized to develop procedures for the implementation of the Uniform Unclaimed Property Act. As used in the Uniform Unclaimed Property Act, unless the context otherwise requires: 1. Rental agreement means any written agreement or lease which establishes or modifies the terms, conditions, rules, or any other provisions concerning the use and occupancy at a self-service storage facility and which contains a notice stating that all articles stored under the terms of such agreement will be sold or otherwise disposed of if no payment has been received for a continuous thirty-day period; and. The fifteen-year abandonment period shall begin to run when any statement or other business communication to the owner has been returned as undeliverable, or on the last date that the owner has communicated with the holder in any of the ways specified in subsection A of this section, whichever is the later. Reasonable notice that the holder may impose the charge or cease payment of interest is given to the owner of the property, either: b. through a schedule of charges sent to the owner of the property, or, c. through a statement in the rules, regulations, or bylaws of the holder that the holder may impose the charge or cease payment of interest; and. Where more than one person is an owner, the property shall not be presumed abandoned unless it has remained unclaimed by all of its owners for the periods hereinafter prescribed; 15. The mailing of notice by first-class mail to the last-known address of the owner by the holder shall constitute compliance with this subsection and, if done, no further act on the part of the holder shall be necessary. Unclaimed Funds Held By Life Insurance Corporations. In the case of the contents of a safe deposit box or other safekeeping repository or of other tangible personal property, a description of the property and the place where it is held, which may be inspected by the State Treasurer, and any amounts, including offsets for drilling costs and rent, owing to the holder; 4. Additional Conditions Leading to Presumption of Abandonment. The State Treasurer shall determine, from time to time, what amount of unclaimed property in custody should be retained as a reserve in order to ensure that all claims presented by persons legally establishing a right to any unclaimed property shall be paid promptly. Browse USLegal Forms largest database of85k state and industry-specific legal forms. 41-43. Learn About Oklahoma Property and Real Estate Laws Oklahoma Homestead Law The State Treasurer may budget and expend monies from the fund for the purpose of making payment to persons, firms, or corporations who are regularly engaged in the business of notifying states about property which may be subject to the provisions of unclaimed property statutes of those states. . C. Abandoned property that consists of any stock or other intangible ownership interest enrolled in a plan that provides for the automatic reinvestment of dividends, distributions, or other sums payable as a result of the interest, may be retained by the holder or paid or delivered to the State Treasurer at the option of the holder. Title 42, Chap. Thinking of moving to Indiana? Upon delivery of a duplicate certificate to the State Treasurer, the holder and any transfer agent, registrar, or other person acting for or on behalf of a holder in executing or delivering the duplicate certificate is relieved of liability as provided in Section 664 of this title to every person, including any person acquiring the original certificate or the duplicate of the certificate issued to the State Treasurer, for losses or damages resulting to any person by the issuance and delivery to the State Treasurer of the duplicate certificate. A. This program does, however, primarily deal with unclaimed money in the form of checks, money orders, royalties, etc, so it may be harder to locate vehicles, homes, and the like. Except as otherwise provided in subsections B and E of this section, stock or other intangible ownership interest in a business association, the existence of which is evidenced by records available to the association, is presumed abandoned and, with respect to the interest, the association is the holder, if a dividend, distribution, or other money payable as a result of the interest has remained unclaimed by the owner for seven (7) years and the owner within seven (7) years has not: 1. Oklahoma has not enacted the 2016 Revised Uniform Unclaimed Property Act (RUUPA). You should check the State Laws for updates. If a vehicle has been abandoned on the highway or on some other stretch of public property, Highway Patrol may request for it to be towed, in which case it will fall into the possession of the tow truck company. 3. The State Treasurer may delegate all necessary authority to act in the State Treasurers behalf to such persons, firms or corporations to enforce the provisions of the Uniform Unclaimed Property Act. If the occupant abandons or surrenders possession of the self-service storage facility and leaves household goods, furnishings, fixtures, or any other personal property in the self-service storage facility, the owner may take possession of the property, and if, in the judgment of the owner, the property has no ascertainable or apparent value, the owner may dispose of the property without any duty of accounting or any liability to any party. Otherwise communicated with the association regarding the interest or a dividend, distribution, or other money payable as a result of the interest, as evidenced by a memorandum or other record on file with the association prepared by an employee of the association. Definitions. Payment or delivery was made in a reasonable attempt to comply with the Uniform Unclaimed Property Act; 2. You should check the State Laws for updates. A. A. C. Unless the State Treasurer considers it to be in the best interest of the state to do otherwise, all securities, other than those presumed abandoned under Section 655 of this title, delivered to the State Treasurer must be held for at least one (1) year before the State Treasurer may sell them. In that case the holder shall file with the State Treasurer a verified written explanation of the proof of claim or of the error in the presumption of abandonment. B. Last-known address means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail; 11. Repealed by Laws 1991, c. 331, 64, eff. This Notice to Tenant sets out specific directions to either retrieve items of personal property left behind by tenant, or have items be confiscated by landlord. Other securities may be sold over the counter at prices prevailing at the time of sale or by another method the State Treasurer considers advisable. Abandonment or surrender of nonresidential rental property - Disposition of personal 19. State Board for Property and Casualty Rates. B. The owner of a self-service storage facility shall not be liable for damages sustained by an occupant, if any, alleged to result from action taken by the owner to prevent access to the self-service storage facility after the occupant has committed an act of default pursuant to the rental agreement. That said, one may reasonably classify a home as abandoned if the owner of the propertyor a party with permission from the owner, has not lived at or maintained the property for a few years, For example, vacation homes that may only see occupancy a few months out of the year cannot be classified as abandoned, but a cabin that has sat empty and unkept for the last fifteen years may very well be considered abandoned. (C) neither the insured nor any person appearing to have an interest in the policy within the preceding two (2) years, according to the records of the company, has assigned, readjusted, or paid premiums on the policy, subjected the policy to loan, or corresponded in writing with the company concerning the policy, or otherwise indicated an interest as evidenced by a memorandum or other record on file prepared by an employee of the company. Define what qualifies as an abandoned home in the Uniform Unclaimed property and pays more than a thousand property every... 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oklahoma abandoned property law