Contracts to Recover Unclaimed Property

Fee agreements with third parties for the recovery of property held by the Tennessee Division of Unclaimed Property are not uncommon. Such arrangements are now governed by statute: An agreement by an apparent owner and a person, the primary purpose of which is to...

When Unclaimed Property is Presumed Abandoned

The following table summarizes when unclaimed property is presumed abandoned for purposes of the Tennessee Uniform Unclaimed Property Act: ASSET TIME ELAPSED AFTER TRIGGERING EVENT Traveler's Checks15 Years Stored Value Cards5 Years Money Orders7 Years Bonds3...

“Property” Under the New Unclaimed Property Act

What constitutes “property” for purposes of the Revised Uniform Unclaimed Property Act? As noted in the previous post, Tennessee recently adopted the Revised Uniform Unclaimed Property Act. Under the Act, property is presumed abandoned if it goes unclaimed...

Tennessee Enacts New Rules on Unclaimed Property

Tennessee has adopted the Revised Uniform Unclaimed Property Act (RUUPA). It became effective on July 1, and is codified at T.C.A. ยง 66-29-101, et seq. It replaces the Uniform Disposition of Unclaimed (Personal) Property Act. RUUPA was crafted last year by the...