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WV HB5629

Bill

Official Source

Status

Engrossed

3/4/2026

Primary Sponsor

Bill Flanigan

Click for details

Origin

House of Delegates

2026 Regular Session

AI Summary

  • Extends the timeframe for nursing homes to report deceased residents' abandoned personal funds from 30 days to 180 days after death if no estate qualification occurs
  • Adds a definition of "finder" to the Uniform Unclaimed Property Act, covering persons or entities who locate or recover unclaimed property for compensation from apparent owners
  • Requires safe deposit boxes and safekeeping depositories to deliver contents to the administrator within 120 days of filing reports, changing from a permissive "may not deliver until" to a mandatory "must deliver within" requirement
  • Makes agreements between apparent owners and property finders void and unenforceable if made during the period from when property is considered abandoned until 24 months after delivery to the administrator, and caps finder compensation at 10% of total claim value
  • Clarifies that when an intestate estate has no legal heirs, personal property must be liquidated by the executor with proceeds passed to the State Treasurer, rather than being disposed of by public sale

Legislative Description

Relating generally to the West Virginia Uniform Unclaimed Property Act.

Estates and Trusts

Last Action

To Government Organization

3/5/2026

Committee Referrals

Government Organization3/5/2026
Government Organization2/16/2026

Full Bill Text

No bill text available