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November 21, 2024 Mist | 46°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS
  3. Title II DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS
  4. Chapter 200A DISPOSITION OF UNCLAIMED PROPERTY
  5. Section 1A Intangible personal property; presumption of abandonment

Section 1A

Section 1A: Intangible personal property; presumption of abandonment

Section 1A. Unless otherwise provided, intangible personal property is presumed abandoned under this chapter if the conditions for presumption of abandonment stated in section three, four, five, five A, five B, six A, six B or six D exist, and if any one of the following four conditions are met:—

(a) the last known address of the apparent owner is in the commonwealth as shown on the records of the person in possession of property;

(b) no address of the apparent owner appears on the records of the person in possession of the property and

(1) the last known address of the apparent owner is in the commonwealth, or

(2) the person in possession of property subject to this chapter is domiciled in the commonwealth and has not previously paid the property to the state of the last known address of the apparent owner, or

(3) the holder is a government or governmental subdivision or agency of the commonwealth and has not previously paid the property to the state of the last known address of the apparent owner;

(c) the last known address, as shown on the records of the person in possession of property, is in a state that does not provide by law for the escheat or custodial taking of such property and the person in possession of property is domiciled in the commonwealth or is a government or governmental subdivision or agency of the commonwealth; or

(d) the last known address, as shown on the records of the person in possession of property, of the apparent owner is in a foreign nation and the person in possession of property is domiciled in the commonwealth or is a subdivision or agency of the commonwealth.