2017 Massachusetts General Laws
PART II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS
TITLE II DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS
Chapter 200A DISPOSITION OF UNCLAIMED PROPERTY
Section 3 Property on deposit; presumption of abandonment

Universal Citation: MA Gen L ch 200A § 3 (2017)

Section 3. Any deposit of property with a person having a residence or place of business in the commonwealth, or authorized to do business therein, together with the increments thereon, shall be presumed abandoned unless the owner has, within three years next preceding the date as of which reports are required by section seven:—

(1) Communicated in writing with the person concerning the deposit; or

(2) Been credited with interest on a passbook or certificate of deposit at his request; or

(3) Had a transfer, disposition of interest or other transaction noted of record in the books or records of the person; or

(4) Increased or decreased the amount of deposit; or

(5) Owned other property for which clause (1), (2), (3) or (4) is applicable; provided, however, that the holder communicates in writing with the owner with regard to such property that would otherwise be presumed abandoned under this section at the address at which communications regarding such other property regularly are received; or

(6) Had another relationship with the holder concerning which the owner has:

(i) communicated in writing with the holder, or

(ii) otherwise indicated an interest as evidenced by a memorandum on file prepared by an employee of the holder; provided, however, that if the holder communicates in writing with the owner with regard to the property that would otherwise be presumed abandoned under this section at the address at which communications regarding the other relationship regularly are received.

Disclaimer: These codes may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.