TITLE 14

ESTATES OF DECEDENTS

CHAPTER 5

REVISED UNCLAIMED PROPERTY ACT

PART 9

CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR

14-5-905.  ALLOWANCE OF CLAIM FOR PROPERTY. (1) If a claim is allowed under section 14-5-904(3), Idaho Code:

(a)  Except upon election of donation as authorized in paragraph (c) of this subsection, the administrator shall pay or deliver to the owner the property or pay to the owner the net proceeds of a sale of the property, together with income or gain to which the owner is entitled under section 14-5-607, Idaho Code. Upon request of the owner, the administrator may sell or liquidate a security and pay the net proceeds to the owner, even if the security had been held by the administrator for less than three (3) years;

(b)  If the property claimed was interest-bearing to the owner on the date of surrender by the holder, the administrator shall also pay interest at a rate of five percent (5%) per year or any lesser rate the property earned while in the possession of the holder. Interest begins to accrue when the property is delivered to the administrator and ceases on the earlier of the expiration of ten (10) years after delivery or the date on which payment is made to the owner; and

(c)  As directed by the claimant, the administrator shall pay over or deliver any property, proceeds, interest, and other sums payable pursuant to this chapter to one (1) or more of the following: the general fund of the state of Idaho pursuant to section 67-1205, Idaho Code; the public school permanent endowment fund created pursuant to section 4, article IX of the constitution of the state of Idaho; the veterans cemetery maintenance fund created pursuant to section 65-107, Idaho Code; or the park and recreation capital improvement account created pursuant to section 57-1801, Idaho Code.

(2)  Any holder who pays the owner for property that has been delivered to the state and that, if claimed from the administrator, would be subject to the provisions of subsection (1)(b) of this section shall add interest as provided in subsection (1)(b) of this section. The added interest must be repaid to the holder by the administrator in the same manner as the principal.

(3)  Property held by the administrator under this chapter is subject to a claim for the payment of an enforceable debt the owner owes in this state for:

(a)  Child support arrearages, including child support collection costs and child support arrearages that are combined with maintenance;

(b)  A civil or criminal fine or penalty, court costs, a surcharge, or restitution imposed by a final order of an administrative agency or a final court judgment; or

(c)  State or local taxes, penalties, and interest that have been determined to be delinquent or as to which notice has been recorded with the secretary of state or the state tax commission.

(4)  Before delivery or payment to an owner under subsection (1)(a) of this section of property or payment to the owner of net proceeds of a sale of the property, the administrator first shall apply the property or net proceeds to a debt under subsection (3) of this section the administrator determines is owed by the owner. The administrator shall pay the amount to the appropriate state or local agency.

History:

[14-5-905, added 2024, ch. 27, sec. 2, p. 208.]