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2020 Delaware Code
Title 12 - Decedents' Estates and Fiduciary Relations
Chapter 11. Escheats
Subchapter II. Unclaimed Property
§ 1186 When agreement to locate property enforceable.
Universal Citation: 12 DE Code § 1186. (2020)
§ 1186. When agreement to locate property enforceable. 81 Del. Laws, c. 1, § 2;
An agreement by an owner and a person, the primary purpose of which is to locate, deliver, recover, or assist in the location, delivery, or recovery of property held by the State Escheator, is enforceable only if the agreement meets all of the following criteria:
(1) It is in a record that clearly sets forth the nature of the property and the services to be provided.
(2) It is signed by or on behalf of the owner, with signature notarized.
(3) It states the amount or value of the property reasonably estimated or expected to be recovered computed both before and after a fee or other compensation to be paid to the other person has been deducted.
(4) It discloses that the property is being held by the Department of Finance.
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