Code of Virginia

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Code of Virginia
Title 55. Property and Conveyances [Repealed Effective October 1, 2019]
Chapter 11.1. Disposition of Unclaimed Property
11/13/2019

§ 55-210.2:1. (Repealed effective October 1, 2019) Property presumed abandoned; general rule.

All tangible and intangible property, including any income or increment thereon, less any lawful charges, that is held, issued or owing in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five years after it became payable is presumed abandoned, except as otherwise provided by this chapter. Property is payable for the purpose of this chapter notwithstanding the owner's failure to make demand or to present any instrument or document required to receive payment.

1984, c. 121; 1985, c. 294; 2000, cc. 733, 745.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.