South Dakota Codified Laws 34-12-15.10. Escheat of unclaimed funds of deceased resident–Notice and transfer to state
Current as of: 2023 | Check for updates
|
Other versions
If, upon the death of a resident and after notification to any known guardian, conservator, or relatives of property belonging to the resident, not exceeding two hundred dollars in value, the property remains unclaimed for sixty days, such property shall escheat directly to the state notwithstanding chapter 21-36. The home or other facility shall notify the office of surplus property of such unclaimed property. However, all money, stocks, bonds, contracts, and claims on banks which can readily be converted to money shall be sent to the state treasurer for deposit in the general fund.
Terms Used In South Dakota Codified Laws 34-12-15.10
- 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
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1977, ch 279, § 10; SL 1993, ch 213, § 222.