Under no circumstances in Oklahoma may a landlord forcibly evict a tenant by self-help means, such as changing locks. A statement that information concerning the property and the name and last-known address of the holder may be obtained by any person possessing an interest in the property by addressing an inquiry to the State Treasurer; and. Title 405. Oklahoma has approximately $585 million in unclaimed property and pays more than a thousand property claims every month. Last-known address means that address provided by the occupant in the latest rental agreement or the address provided by the occupant in a subsequent written notice of a change of address; 3. Well also help you find the best deals on. b. all obligations for the acquisition and retention of a mineral lease, including bonuses, delay rentals, shut-in royalties, and minimum royalties; 13. Aside from that, however, Oklahoma doesnt provide much information as to what happens to the abandonment of personal property, especially when its abandoned in a public place. The report must be verified and must include: 1. In the case of a deposit, increased or decreased its amount or presented the passbook or other similar evidence of the deposit for the crediting of interest; 2. OK Landlord Tenant Law: Oklahoma Statutes Title 41 - Landlord and Tenant (41-1 to 41-135) If you have any questions or need legal advice, you can ask a local landlord tenant lawyer online. The report must be verified and must include: 1. In applying the Fifty Dollar ($50.00) limitation, individual credit memos to the same owner shall not be aggregated. (e) Notwithstanding any other provisions of this act, subsection (d) of this section applies to sums payable on travelers checks, money orders, and similar written instruments presumed abandoned on or after February 1, 1965, except to the extent that those sums have been paid over to a state prior to January 1, 1974. 7. C. The running of the seven-year period of abandonment ceases immediately upon the occurrence of a communication described in subsection A of this section. D. The holder of an ownership interest under Section 655 of this title shall deliver a duplicate certificate or other evidence of ownership if the holder does not issue certificates of ownership to the State Treasurer. The State Treasurer shall cause notice to be published not later than March 1, or in the case of property reported by life insurance companies, September 1, of the year following the report required by Section 661 of this title at least once each week for two (2) consecutive weeks in a legal newspaper of general circulation in the county in this state in which is located the last-known address of any person to be named in the notice. 5616 Page 2 . B. Browse USLegal Forms largest database of85k state and industry-specific legal forms. 8. (+Indicates article creating the Corporation Commission) (*Indicates section specifically mentioning the Corporation Commission) Oklahoma Constitution Title 2. Find the solutions to your Oklahoma landlord tenant law problems here with our full guide to the Oklahoma Landlord Tenant Act. Sums Payable on Travelers Check or Money Order Presumed Abandoned. The following funds held or owing by any utility are presumed abandoned: Any deposit made by a subscriber with a utility to secure payment for, or any sum paid in advance for, utility services to be furnished in this state, less any lawful deductions, that has remained unclaimed by the person appearing on the records of the utility entitled thereto for more than seven (7) years after the termination of the services for which the deposit or advance payment was made. It is a crucial piece of information to consider if you believe there is some unclaimed money with your name on it. 3. 5. The fifteen-year abandonment period shall begin to run when any statement or other business communication to the owner has been returned as undeliverable, or on the last date that the owner has communicated with the holder in any of the ways specified in subsection A of this section, whichever is the later. (c) For the purpose of this section, a person who holds property as an agent for a business association is deemed to hold the property in a fiduciary capacity for that business association alone, unless the agreement between him and the business association provides otherwise. Nov. 1, 1998. . What qualifies as an abandoned home in Oklahoma? You must have JavaScript enabled in your browser to utilize the functionality of this website. Easiest way to compare and bundle your car and home insurance, for free, How to find cheap home and auto insurance in Oklahoma. Relief From Liability by Payment or Delivery. Upon presumed abandonment of the automatically renewable time deposit, the holder shall report the presumed abandonment to the State Treasurer and may, at the holders option, either retain the property or pay or deliver it to the State Treasurer. eff. Except as provided in subsections C and D of this section, the State Treasurer, within three (3) years after the receipt of abandoned property, shall sell it to the highest bidder at public sale in whatever city in the state affords in the judgment of the State Treasurer the most favorable market for the property involved. 3. The last-known address of the owner is unknown; and. (12-1148.10A; Parker Livestock v. Oklahoma Unclaimed Property Reporting Period The annual reporting period for unclaimed property in Oklahoma is January 1 to December 31 for Life Insurance companies and July 1 to June 30 for Non Life Insurance companies. (b) Funds in an individual retirement account or a retirement plan for self-employed individuals or similar account or plan established under the Internal Revenue laws of the United States are not payable or distributable within the meaning of subsection (a) of this section unless, under the terms of the account or plan, distribution of all or part of the funds would then be mandatory. The duty of care an owner must exercise with respect to personal property located in a self-service storage facility is ordinary care only. Note: This summary is not intended to be an all inclusive discussion of abandoned property law, but does include basic provisions. 2. Get started now - select insurance you want to put on auto-pilot: This app is great, but the customer service is even better! Title 60. B. . The Unclaimed Property Division is located at 2300 N Lincoln Blvd, Room 217 in Oklahoma City. The real property owner, legal possessor or authorized agent and the wrecker vehicle driver shall jointly, and each in the presence of the other, inventory personal property found within or upon the vehicle and each shall accordingly sign a statement on the form reflecting this requirement has been fulfilled. State Board of Examiners of Psychologists. Securities listed on an established stock exchange must be sold at prices prevailing at the time of sale on the exchange. Vehicles abandoned on private property, however, may be dealt with in one of two ways. Intangible Property that is Presumed Abandoned. What qualifies as abandoned personal property in Oklahoma? Owned other property to which the provisions of paragraph 1, 2 or 3 of this subsection apply and if the banking or financial organization communicates in writing with the owner with regard to the property that would otherwise be presumed abandoned under this subsection at the address to which communications regarding the other property are regularly sent; or. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of monies deposited to the fund pursuant to Section 668 of this title. Miscellaneous Personal Property Held for Another. 4. The State Treasurer shall determine, from time to time, what amount of unclaimed property in custody should be retained as a reserve in order to ensure that all claims presented by persons legally establishing a right to any unclaimed property shall be paid promptly. A person who pays or delivers property to the State Treasurer in good faith is relieved of all liability to the extent of the value of the property paid or delivered for any claim then existing or which thereafter may arise or be made in respect to the property. 42-193. C. Notwithstanding the provisions of subsection B of this section or any other provision of law, the expiration of any period of time specified by law during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or recovery of property shall not serve as a defense in any action or proceeding brought by or on behalf of the State Treasurer against any federal, state or local government or governmental subdivision, agency, entity, officer or appointee thereof, for the payment or delivery of any abandoned property to the State Treasurer pursuant to the Uniform Unclaimed Property Act or to enforce or collect any penalty provided by the Uniform Unclaimed Property Act. The actual experience of other states having unclaimed property laws, as to the amount of claims presented and established as compared no the total amount of property taken into state custody; 2. Such payment shall not be made until the funds have been deposited with the State Treasurer. C. Abandoned property that consists of any stock or other intangible ownership interest enrolled in a plan that provides for the automatic reinvestment of dividends, distributions, or other sums payable as a result of the interest, may be retained by the holder or paid or delivered to the State Treasurer at the option of the holder. A. Terms Defined. . In the case of the contents of a safe deposit box or other safekeeping repository or of other tangible personal property, a description of the property and the place where it is held, which may be inspected by the State Treasurer, and any amounts, including offsets for drilling costs and rent, owing to the holder; 4. No. Title 42, Chap. was wonderful! Except as otherwise provided in subsections B and C of this section, a person who is required to file a report under Section 661 of this title, within six (6) months after the final date for filing the report as required by Section 661 of this title, shall pay or deliver to the State Treasurer all abandoned property required to be reported after first deducting therefrom expenses incurred in the mailing of notices required by subsection E of Section 661 of this title and any offsets as provided by law. - Fri. E-mail: Unclaimed@treasurer.ok.gov Every state has an unclaimed property program. The clerk shall also report to the board of county commissioners that the report has been received, and note the receipt in the minutes of the meeting, so the public can be informed.
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