Home  > LawServer Pro  > Property  > Personal Property  > Lost/Abandoned/Unclaimed personal property  > Wisconsin Statutes 177.22 - Public sale of abandoned property 
Search the Wisconsin Statutes

Wisconsin Statutes 177.22 - Public sale of abandoned property

Wisconsin Statutes > Chapter 177 > 177.22


Current as of: 2013

   (1)   Except as provided in subs. (2) and (4), the administrator, within 3 years after the receipt of abandoned property, shall sell it to the highest bidder in a manner that, in the judgment of the administrator, affords the most favorable market for the property. The administrator may decline the highest bid and reoffer the property for sale if, in his or her judgment, the bid is insufficient. If the administrator determines that the probable cost of sale exceeds the value of the property, it need not be offered for sale. Any public sale under this section held in a city, village, or town in this state shall be preceded by the publication of one notice, at least 3 weeks in advance of sale, in a newspaper of general circulation in the county in which the property is to be sold.

   (2)   Securities listed on an established stock exchange shall be sold at prices prevailing at the time of sale on the exchange. Other securities may be sold over the counter at prices prevailing at the time of sale or by any other method the administrator considers advisable.

   (4)   Unless the administrator determines that it is in the best interest of this state to do otherwise, he or she shall hold all securities for at least one year before selling them. No person has any claim under this chapter against this state, the holder, any transfer agent, registrar or other person acting for or on behalf of a holder for any appreciation in the value of the property occurring after delivery by the holder to the administrator.

   (5)   The purchaser of property at any sale conducted by the administrator under this chapter takes the property free of all claims of the owner or previous holder and of all persons claiming through or under them. The administrator shall execute all documents necessary to complete the transfer of ownership.

Wisconsin Statutes 177.21 - Crediting of dividends, interest or increments to owner's accountChapter 177 Table of ContentsWisconsin Statutes 177.23 - Deposit of funds

________________________________________________________________________

________________________________________________________________________

Questions & Answers: Lost/Abandoned/Unclaimed personal property

When a person wants to claim funds, do they have to appear in court to obtain the copies needed for the Attorney General's Office....
>I have a situation. My ex fiancé and I broke up almost 2 years ago. When his father pAssed away he received thousands of 45 records. And albums. Before we broke up my sister an...
In New Hampshire, if a private road transfers to heirs as part of an estate, can the heirs abandon or escheat it to the state if that road is the only access other parties have to ...
If i`m not mistaken anyone who leave their personal property on your land after 6 months it becomes yours if i`m not mistaken, look up the law first...
I am in a law suit with a man whom I never married..i left my house due to physical and verbal abuse 17 years I am in court trying to get him out of my house..i was told i Left ove...
I live in Alabama...I have an old building that (over the years) random people have asked to store items in...I am about to restore this old building and I am asking that these ind...

U.S. Code Provisions: Lost/Abandoned/Unclaimed personal property

U.S. Code Title 12 > Chapter 2 > Subchapter XVII - Disposition Of Unclaimed Property Recovered From Closed National Banks
U.S. Code > Title 12 > Chapter 26 - Disposition Of Abandoned Money Orders And Traveler's Checks

Related Articles: Lost/Abandoned/Unclaimed personal property

 Escheat of Abandoned Property
Comments (0)add comment

Post a comment or question below.
smaller | bigger

busy
 
Email  Email Print  Print   Digg

monotone-frail