Loaned property in the possession of a museum at the time of the owner’s death which would otherwise escheat to the state shall not so escheat but shall become the property of the museum to which it is loaned.
- Laws 1996, LB 1276, § 12.
Terms Used In Nebraska Statutes 51-712
- 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
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801