72-3-1101. Collection of personal property by affidavit.
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72-3-1101 . Collection of personal property by affidavit.
(1)Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor stating that:
(a)the value of the probate estate, wherever located, less liens and encumbrances, does not exceed $100,000, except as provided in subsection (2);
(b)30 days have elapsed since the death of the decedent;
(c)no application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction; and
(d)the claiming successor is entitled to payment or delivery of the property.
(2)The department of revenue may refund unclaimed property to a successor of the decedent, pursuant to the provisions of Title 70, chapter 9, part 8, if the value of the unclaimed property is $5,000 or less regardless of the value of the estate.
(3)A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in subsection (1).