LexisNexis® Legal Newsroom
The 1995 Uniform Disposition of Unclaimed Property Act: How “Uniform” Has State Enactment Been?

In April 2008, the U.S. Virgin Islands became the fourteenth jurisdiction to adopt the 1995 Uniform Disposition of Unclaimed Property Act. The enactment is particularly noteworthy because the territory adopted the 1995 Uniform Act exactly as written--- something all of the preceding adopters were unable...

Uniformity in Unclaimed Property: States Make New Efforts to Simplify Reporting

There is a significant amount of disparity between the states in terms of their unclaimed property reporting requirements. However, an increasing number of states are recognizing that the benefits of identifying best practices, establishing national standards, and achieving, to whatever degree possible...

Pepper Hamilton, LLP: 'Whose Property Is It, Anyway?' - California's Strict Constructionist Escheat Statute

The California Court of Appeal’s 6th District recently overturned a superior court’s grant of summary judgment in a ruling that may have far-reaching implications on the availability of an immunity defense under unclaimed property law, both in California and elsewhere.1 Under Title 10 of...

A.W. Fin. Servs., S.A. v. Empire Res., Inc., 981 A.2d 1114 (Del. 2009)

Tracking unclaimed property dormancy periods can present administrative problems for holders. Aside from reporting delinquency hazards that may follow a holder's failure to heed dormancy period limits, liability issues can emerge if the holder prematurely allows property to be escheated. Here, the...

Unpaid Insurance Benefits Issues Continue to Intensify

By Phil Stano, Partner, Sutherland Asbill & Brennan LLP Attention to unclaimed property issues affecting life insurance companies – including issues relating to unpaid life insurance and annuity benefits – has significantly escalated in recent weeks, due to regulatory actions, media...