2016 Kentucky Revised Statutes CHAPTER 393 - ESCHEATS .100 Property paid into court -- When presumed abandoned -- Reversion to municipality or consolidated local government which procured payment into court.
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393.100 Property paid into court -- When presumed abandoned -- Reversion to
municipality or consolidated local government which procured payment into
court.
Any property paid into any court of this state for distribution and the increments thereof,
shall be presumed abandoned if not claimed within five (5) years after the date of
payment into court or as soon after the five (5) year period, as all claims filed in
connection with it, have been disallowed or settled by the court. Provided, however, that
any property paid into any court of this state for distribution and the increments thereof,
which may be presumed abandoned as provided in this chapter and which shall have been
recovered or procured upon the relationship or through the instrumentality of any
municipality or a consolidated local government of this state, shall revert to the general
fund of such municipality or a consolidated local government and at any time after the
five (5) year period has expired, after the date of the payment into the court, the
municipality or a consolidated local government may by petition filed against the
custodian of such funds, in the court in which said property is located, request the
payment thereof to said municipality or a consolidated local government and the judge of
said court shall order the custodian thereof, to pay the entire sum to said municipality or a
consolidated local government. Provided, further that before entering judgment, ordering
said sum so paid, the court shall require that notice be published at least once in a
newspaper of general bona fide circulation in the county, stating the intention of the court
to award such sum to the municipality or a consolidated local government and final
judgment shall not be entered, until fifteen (15) days shall have elapsed from the date of
such publication. At any time prior to the final judgment, the court may consider any bona
fide claims made by claimants to said property or any part thereof. However, thereafter,
any and all claimants shall be forever barred therefrom.
Effective: July 15, 2002
History: Amended 2002 Ky. Acts ch. 346, sec. 229, effective July 15, 2002. -Amended 1944 Ky. Acts ch. 50, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1,
effective October 1, 1942, from Ky. Stat. sec. 1610.
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