Abandoned Property - Unclaimed or Abandoned Property In the Possession, Custody or Control of the United States of America - Procedure


Published: 2014-09-22

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§ 1217. Procedure. Whenever it appears, after investigation by the
comptroller or otherwise, that there exists or may exist escheated
property under this article, the attorney general may take action to
recover such property. For such purpose the attorney general may
institute special proceedings in the name of the people of the state of
New York in the supreme court of this state. In any such proceeding
there shall be named as respondents

(a) All last known owners or claimants appearing in the records of the
United States. These may be described as a class when

(i) they own or claim property of the same nature and the value of
such property as shown on the account of each such owner or claimant in
the records of the United States does not exceed five hundred dollars in
value, or

(ii) the records of the United States show more than ten such owners
or claimants for a particular fund, item or category of property, or

(iii) the records of the United States fail to disclose the number of
owners or claimants for a particular fund, item or category of property
with a reasonable degree of certainty.

(b) All unknown owners or claimants. These may be described as a
class.