§ 1557.
298 words·~1 min read·
/vt/title-27/chapter-18/1557A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 1557. Deceased owners; multiple claimants
(a)If the Administrator holds unclaimed property in the name of a deceased owner, the Administrator may deliver the property as follows:
(1)In the case of an open estate, to the Administrator or executor.
(2)In the case of a closed estate and the unclaimed property is valued at less than $5,000.00, in accordance with the Probate Division of the Superior Court decree of distribution.
(3)In the absence of an open estate or Probate Division of the Superior Court decree of distribution, and the unclaimed property is valued at less than $5,000.00 to the surviving spouse of the deceased owner, or, if there is no surviving spouse, then to the next of kin according to 14 V.S.A. § 314.
(4)In all other cases where the Administrator holds property in the name of a deceased owner, a probate estate shall be opened by the claimant, or other interested party, in order to determine the appropriate distribution of the unclaimed property. Where an estate is opened solely to distribute unclaimed property under this section, the Probate Division of the Superior Court may waive any filing fees.
(b)If the Administrator holds unclaimed property valued at $250.00 or less that more than one person owns, the Administrator may deliver the property as follows:
(1)If the property has been listed on the Administrator’s website for less than one year, a proportionate share to each of the persons who owns the property and who files a claim.
(2)If the property has been listed on the Administrator’s website for a year or more, to the first person who files a claim and who owns at least a share of the property. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)