Chapter 1 Unclaimed Property Act
Chapter 2 Sale of Unclaimed Property in Hotels
Chapter 3 Unclaimed Money in Possession of a Court Clerk
Chapter 4 Unclaimed Property in Possession of Repossessors of Motor Vehicles or Watercraft
Chapter 5 Property Loaned to Museums
Chapter 6 Transfer of Property Interests in Molds
Chapter 7 Transfer of Property Interests in Silk Screens
Chapter 8 Finding Strays or Property Adrift
Chapter 9 Drifting Boats and Timber
Chapter 10 Sale of Abandoned Watercraft

Terms Used In Indiana Code > Title 32 > Article 34 - Lost or Unclaimed Personal Property

  • administrator: means the administrator of the unclaimed property law of another state. See Indiana Code 32-34-1-3
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • apparent owner: means a person whose name appears on the records of a holder as the person entitled to property held, issued, or owing by the holder. See Indiana Code 32-34-1-4
  • Appraisal: A determination of property value.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • business association: means the following:

    Indiana Code 32-34-1-5

  • clerk: means any person performing the duties of a clerk of any court, whether designated specifically as the clerk of that court or not. See Indiana Code 32-34-3-1
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • creditor: means the person who has lawfully repossessed a vehicle. See Indiana Code 32-34-4-1
  • customer: means an individual or entity who contracts with or causes a fabricator:

    Indiana Code 32-34-6-2

  • customer: means an individual or entity that causes another individual or entity to make a silk screen or to use a silk screen to manufacture, assemble, or make a product. See Indiana Code 32-34-7-2
  • debtor: means the person from whom a vehicle is repossessed. See Indiana Code 32-34-4-2
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • domicile: means the following:

    Indiana Code 32-34-1-6

  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • fabricator: means an individual or entity, including a tool or die maker, who:

    Indiana Code 32-34-6-3

  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • financial institution: means a depository financial institution that is organized or reorganized under Indiana law, the law of another state, or United States law. See Indiana Code 32-34-1-7
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • holder: means a person obligated to deliver or pay to the owner property that is subject to this chapter. See Indiana Code 32-34-1-8
  • insurance company: means an association, a corporation, or a fraternal or mutual benefit organization, whether or not for profit, that is engaged in the business of providing insurance, including the following:

    Indiana Code 32-34-1-9

  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • interest bearing property: means one (1) of the following:

    Indiana Code 32-34-1-9.1

  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • lender: means a person whose name appears on the records of a museum as the person legally entitled to, or claiming to be legally entitled to, property held by the museum. See Indiana Code 32-34-5-1
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • loan: means a deposit of property not accompanied by a transfer of title to the property. See Indiana Code 32-34-5-3
  • marina operator: means a person, a firm, a corporation, a limited liability company, a municipality, or another unit of government that is engaged in the business of operating a marina. See Indiana Code 32-34-10-1
  • mineral: means any of the following:

    Indiana Code 32-34-1-11

  • mineral proceeds: means proceeds currently payable and unclaimed and, upon the abandonment of those proceeds, all proceeds that would have become payable, including the following:

    Indiana Code 32-34-1-12

  • money order: includes an express money order and a personal money order on which the remitter is the purchaser. See Indiana Code 32-34-1-13
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • museum: means an institution located in Indiana that:

    Indiana Code 32-34-5-4

  • owner: means :

    Indiana Code 32-34-1-14

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • permanent loan: means a loan of property to a museum for an indefinite period. See Indiana Code 32-34-5-5
  • person: means an individual, a corporation, a business trust, an estate, a trust, a partnership, an association, a joint venture, a government, a governmental subdivision, agency, or instrumentality, a public corporation, a joint or common owner, or any other legal or commercial entity. See Indiana Code 32-34-1-15
  • person: means an individual, a nonprofit corporation, a trustee or legal representative, the state, a political subdivision (as defined in IC 36-1-2-13), an agency of the state or a political subdivision, or a group of those persons acting in concert. See Indiana Code 32-34-5-6
  • Personal property: All property that is not real property.
  • Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
  • property: means an interest in intangible personal property, except an unliquidated claim, and all income or increment derived from the interest, including an interest that is referred to as or evidenced by:

    Indiana Code 32-34-1-17

  • property: means a tangible object under a museum's care that has intrinsic historic, artistic, scientific, or cultural value. See Indiana Code 32-34-5-7
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Sheriff: means the sheriff of the county or another person authorized to perform sheriff's duties. See Indiana Code 1-1-4-5
  • silk screen maker: means an individual or entity that makes a silk screen. See Indiana Code 32-34-7-3
  • silk screen user: means an individual or entity that uses a silk screen to manufacture, assemble, or make a product. See Indiana Code 32-34-7-4
  • state: means a state of the United States or its instrumentalities, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Indiana Code 32-34-1-18
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • timber: means trees, whether standing, down, or prepared for sale, sawlogs and all other logs, cross and railroad ties, boards, planks, staves and heading, and other trees cut or prepared for market. See Indiana Code 32-34-9-1
  • Trustee: A person or institution holding and administering property in trust.
  • undocumented property: means property in the possession of a museum for which the museum cannot determine the owner by reference to the museum's records. See Indiana Code 32-34-5-8
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
  • utility: means a person that owns or operates for public use any plant, equipment, property, franchise, or license for the transmission of communications or for the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas. See Indiana Code 32-34-1-19
  • value: means the amount of money that a reasonable person would estimate a willing buyer would pay for an item of personal property. See Indiana Code 32-34-4-3
  • vehicle: means a motor vehicle or a watercraft. See Indiana Code 32-34-4-4
  • Verified: when applied to pleadings, means supported by oath or affirmation in writing. See Indiana Code 1-1-4-5
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.