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Maine Revised Statutes Title 33. Property § 2118. Administrator's options as to custody

Current as of January 01, 2025 | Updated by Findlaw Staff

1. Custody declined. The administrator may decline to take custody of property reported under section 2091 if the administrator determines that:

A. The property has a value less than the estimated expenses of notice and sale of the property; or

B. Taking custody of the property would be unlawful.

2. Before presumed abandoned. A holder may pay or deliver property to the administrator before the property is presumed abandoned under this Act if the holder:

A. Provides the apparent owner of the property notice required by section 2101 and provides the administrator evidence of the holder's compliance with this paragraph;

B. Includes with the payment or delivery a report regarding the property conforming to section 2092; and

C. First obtains the administrator's consent in a record to accept payment or delivery. The holder's request must be in writing.

3. Presumed abandoned. On payment or delivery of property under subsection 2, the property is presumed abandoned.

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Cite this article: FindLaw.com - Maine Revised Statutes Title 33. Property § 2118. Administrator's options as to custody - last updated January 01, 2025 | https://codes.findlaw.com/me/title-33-property/me-rev-st-tit-33-sect-2118/

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