Tennessee Notice to Public of Finding of Lost Property
Description
How to fill out Notice To Public Of Finding Of Lost Property?
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FAQ
In Tennessee, someone may claim title after seven years (or 20 years without color of title) if they satisfy the following requirements: Must enter the land without the owner's permission (hence the term "adverse"); Must actually be on the land, using and caring for it as if it were his or her own;
Property § 66-28-405. (a) The tenant's unexplained or extended absence from the premises for thirty (30) days or more without payment of rent as due shall be prima facie evidence of abandonment. The landlord is then expressly authorized to reenter and take possession of the premises.
Most property types in Tennessee have a dormancy period of three years. For most property types, accounts are considered dormant if the owner of a property has not indicated any interest in the property or if no contact has been made for the allotted dormancy period for that property.
Due diligence consists of mailing a first class letter to the owner. The purpose of the letter is to give the owner the opportunity to collect the funds from you and relieve you of the liability to have to report and remit the funds to the Unclaimed Property Division.
§§ 66-29-101-155 is the Tennessee Unclaimed Property Act. The act requires all holders of unclaimed or abandoned property to report and transmit all unclaimed property to the state. All reports must be filed electronically in an accepted format. The Department of Treasury has free software available on their website.
The default dormancy period for unclaimed property has been changed from 5 years to 3 years. Property that does not have a specified dormancy period must now be reported 3 years after being "unclaimed".
Submit your report using our secure, online portal The ReportItTN online portal allows you to submit your unclaimed property report electronically to meet statutory requirements. Important: You are still required to create your NAUPA file prior to using the online reporting portal.
The default dormancy period for unclaimed property has been changed from 5 years to 3 years. Property that does not have a specified dormancy period must now be reported 3 years after being "unclaimed".
