What do we need to do to legally claim the property as ours so we can give it away or sell it?
Full Question:
We purchased a home last October. When we moved in, we noticed the previous owners had left some property (sports memorabelia) in the home. The sellers left no forwarding address with us, so we mailed a letter to them at our address thinking maybe they forwarded their mail; they hadn't. We notified our realtor the week we moved in. We have searched the white pages online, but have not been able to find a telephone number or address for the sellers. It has been nearly ten months and we have not heard from anyone about the property. What do we need to do to legally claim the property as ours so we can give it away or sell it? I don't want to get rid of it and then have them show up and want it back, potentially putting us in a position where we would have to pay them for property they left behind nearly a year ago. The abandoned property laws I found in Oregon don't seem to cover this situation. Please let me know what the legal remedy would be to claim this property as ours.
08/17/2007 |
Category: Abandoned Property |
State: Oregon |
#8025
Answer:
I suggest calling the local poice depatment, as abandoned property laws vary by local area. The following is an OR statute:
98.352 Report of abandoned property.
(1) Every person holding funds or other property, tangible or
intangible, presumed abandoned under ORS 98.302 to 98.436 and 98.992
shall report and pay or deliver to the Department of State Lands all
property presumed abandoned as provided in this section, except that:
(a) Funds transferred to the General Fund under ORS 293.455(1)(a) shall
only be reported to the department.
(b) Funds in the possession of the Child Support Program described in
ORS 180.345 shall only be reported to the department.
(2) The report shall be verified as to the accuracy of the information
contained and shall include:
(a) Except with respect to traveler's checks and money orders, the
name, if known, and address, if known, of each person appearing from the
records of the holder to be the owner of any property of value of $50 or
more presumed abandoned under ORS 98.302 to 98.436 and 98.992;
(b) In case of unclaimed funds of life insurance corporations, the full
name of the insured or annuitant and last-known address according to the
life insurance corporation's records;
(c) The nature and identifying number, if any, or description of the
property and the amount appearing from the records to be due, except that
items of value under $50 each may be reported in aggregate;
(d) The date when the property became payable, demandable, or
returnable, and the date of the last transaction with the owner with
respect to the property; and
(e) Other information that the department prescribes by rule as
necessary for the administration of ORS 98.302 to 98.436 and 98.992.
(3) If the person holding property presumed abandoned is a successor to
other persons who previously held the property for the owner, or if the
holder has had a name change while holding the property, the holder shall
file with the report all prior known names and addresses and effective
dates of changes if known of each holder of the property.
(4) The report shall be filed after October 1, but no later than
November 1 of each year for accounts dormant as of June 30. The
department may postpone the reporting date upon written request by any
person required to file a report. All records are exempt from public
review for 12 months from the time the property is reportable and for 24
months after the property has been remitted to the department. All lists
of records or property held by a government or public authority under ORS
98.336 shall be exempt from public review until 24 months after the
property is remitted to the department.
(5) If the holder of property presumed abandoned under ORS 98.302 to
98.436 and 98.992 knows the whereabouts of the owner and if the owner's
claim has not been barred by the statute of limitations, the holder
shall, before filing the annual report, communicate with the owner and
take necessary steps to prevent abandonment from being presumed. The
holder shall exercise due diligence to ascertain the whereabouts of the
owner.
(6) Verification, if made by a partnership, shall be executed by a
partner; if made by an unincorporated association or private corporation,
by an officer; and if made by a public corporation, by its chief fiscal
officer.
[1957 c. 670 § 13; 1967 c. 357 § 2; 1981 c. 475 § 4; 1983 c. 716 § 9;
1993 c. 694 § 6; 1997 c. 86 § 1; 1999 c. 798 § 2; 2003 c. 73 § 48]
ATTY. GEN. OPINIONS: Necessity of probate if abandoned
property is claimed by heirs, (1972) Vol 35, p 1177