Terms Used In Florida Statutes 717.102

  • Holder: means a person, wherever organized or domiciled, who is:
    (a) In possession of property belonging to another;
    (b) A trustee in case of a trust; or
    (c) Indebted to another on an obligation. See Florida Statutes 717.101
  • Lawful charges: means charges against dormant accounts that are authorized by statute for the purpose of offsetting the costs of maintaining the dormant account. See Florida Statutes 717.101
  • Owner: means a depositor in the case of a deposit, a beneficiary in the case of a trust or a deposit in trust, or a payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this chapter or his or her legal representative. See Florida Statutes 717.101

(1) All intangible property, including any income or increment thereon less any lawful charges, that is held, issued, or owing in the ordinary course of the holder‘s business and the owner fails to claim such property for more than 5 years after the property becomes payable or distributable is presumed unclaimed, except as otherwise provided by this chapter.
(2) Property is payable or distributable for the purpose of this chapter notwithstanding the owner’s failure to make demand or to present any instrument or document required to receive payment.
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