38 U.S.C. § 8504 — Disposition of other unclaimed property
submitted 68 years ago by Pub. L. 85-857 to r/title-38-VETERANS-BENEFITS · 167 words · no verdicts yet
Other unclaimed property found at VA facilities is stored, and may be sold or disposed of if unclaimed after 90 days. An owner can still get it back by paying storage costs before it's disposed of. Sale proceeds go into a trust fund, but the rightful owner or their representative can claim them for up to five years — unless the owner died with no heirs.
This section is one undivided provision. Any other unclaimed property found on premises the Department* of Veterans Affairs controls must be stored by the officer in charge. If the owner does not claim it within 90 days, it may be sold, used, destroyed, or otherwise disposed of under the Secretary's regulations. Before it is disposed of, the owner, their personal representative, or their next of kin may still reclaim it by paying reasonable storage charges set by regulation. If it is sold, the net proceeds are credited to the same post fund and spent like the fund's other money. The person entitled to the property, or their legal representative or assignee, gets the sale proceeds — minus expenses — if they make a claim within 5 years of when the property was found. But if the owner died without a will and with no surviving creditors or next of kin, the proceeds are not paid to that person's legal representative.
Any other unclaimed property found on the premises under the control of the Department* shall be stored by the officer in charge of such premises and may be sold, used, destroyed, or otherwise disposed of in accordance with regulations promulgated by the Secretary* if the owner thereof fails to claim same within ninety days. If undisposed of, the same may be reclaimed by the owner, such person’s personal representative or next of kin, upon payment of reasonable storage charges prescribed by regulations. If sold, the net proceeds thereof shall be credited to said post fund to be expended as other assets of such fund. The person who was entitled to such property, or such person’s legal representative, or assignee, shall be paid the proceeds of sale thereof, less expenses if claim therefor be made within five years from the date of finding. If the owner shall have died intestate without creditors or next of kin surviving, such proceeds shall not be paid to such person’s legal representative.
Source credit: (Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1258, § 5204; Pub. L. 99–576, title VII, § 701(96), Oct. 28, 1986, 100 Stat. 3300; renumbered § 8504, Pub. L. 102–40, title IV, § 402(b)(1), May 7, 1991, 105 Stat. 238; Pub. L. 102–83, § 4(a)(3), (4), (b)(1), (2)(E), Aug. 6, 1991, 105 Stat. 404, 405.)
- 1958Enacted · Pub. L. 85-857 · 72 Stat. 1258
- 1986Amended · Pub. L. 99-576 · 100 Stat. 3300
- 1991Amended · Pub. L. 102-40 · 105 Stat. 238
- 1991Amended · Pub. L. 102-83 · 105 Stat. 404, 405
A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-857 on 1958-09-02.
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