Iowa Code 305B.7 – Acquiring title to undocumented property
Current as of: 2023 | Check for updates
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1. A museum may acquire title to undocumented property held by a museum for seven years or longer with no valid claim or written contact by any person, all verifiable through the museum’s written records, by giving notice of acquisition of title to undocumented property.
Terms Used In Iowa Code 305B.7
- Claimant: means a person who files a notice of intent to preserve an interest in property on loan to a museum as provided in section 305B. See Iowa Code 305B.2
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Lender: means a person whose name appears on the records of the museum as the person legally entitled to property held or owing by the museum. See Iowa Code 305B.2
- Loan: means a deposit of property not accompanied by a transfer of title to the property. See Iowa Code 305B.2
- Museum: includes , but is not limited to, historical societies, historic sites or landmarks, parks, monuments, and libraries. See Iowa Code 305B.2
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- Property: means a tangible object, animate or inanimate, under a museum's care which has intrinsic historic, artistic, scientific, or cultural value. See Iowa Code 305B.2
- Undocumented property: means property in the possession of a museum for which the museum cannot determine by reference to the museum's records the property's owner. See Iowa Code 305B.2
2. If a lender or claimant does not respond to the notice provided in subsection 1 within three years by filing a notice of intent to retain an interest in property on loan, the museum’s title to the property becomes uncontestable under section 305B.9.
3. A notice of acquisition of title must include a statement containing substantially the following information:
The records of (name of museum) fail to indicate the owner of record of certain property in its possession. The museum intends to acquire title to the below described property: (general description of the property). If you claim ownership or other legal interest in this property you must contact the institution, establish your ownership of the property pursuant to section 305B.8, and make arrangements to collect the property. If you fail to do so promptly, you will be considered to have waived any claim you may have had to the property.