State Codes and Statutes
Statutes > Tennessee > Title-66 > Chapter-29 > Part-1 > 66-29-11166-29-111. Property held by federal government.
All property, including choses in action in sums certain, and all debts owed, entrusted funds, or other property held by the federal government, or any agency, officer or appointee thereof, is presumed abandoned if the property has been unclaimed for at least one (1) year. The federal government or a government officer or appointee of the property may deduct from the amount paid or delivered to the state treasurer the proportionate share of the actual and necessary cost of examining such records and reporting such information. This state shall hold the federal government harmless to the extent of the value of any property so paid or delivered from any claim which then exists or which thereafter may arise or be made in respect to property delivered to the state treasurer by the federal government. The property, without regard to any activity or inactivity within the past one (1) year, shall also be presumed abandoned if the owner thereof is known to the holder to have died and left no one to take the property by will and no one to take the property by intestate succession.
[Acts 1978, ch. 561, § 10; T.C.A., §§ 64-2910, 66-29-110; Acts 1984, ch. 544, § 7; 1986, ch. 539, § 17; 1993, ch. 195, § 8.]
