305B.7 Acquiring title to undocumented property.

200 words·~1 min read·/ia/chapter-305b-museum-property/305b-7

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. A museum may acquire title to undocumented property held by a museum for seven years or longer with no valid claim or written contact by any person, all verifiable through the museum’s written records, by giving notice of acquisition of title to undocumented property.

2. If a lender or claimant does not respond to the notice provided in subsection 1 within three years by filing a notice of intent to retain an interest in property on loan, the museum’s title to the property becomes uncontestable under section 305B.9.

3. A notice of acquisition of title must include a statement containing substantially the following information:

The records of (name of museum) fail to indicate the owner of

record of certain property in its possession. The museum intends to

acquire title to the below described property: (general description

of the property). If you claim ownership or other legal interest

in this property you must contact the institution, establish your

ownership of the property pursuant to section 305B.8, and make

arrangements to collect the property. If you fail to do so promptly,

you will be considered to have waived any claim you may have had

to the property.

Referred to in §305B.13