Statute · New York Abandoned Property Law
N.Y. Aband. Prop. Law § 1223 — Alternative to escheat
N.Y. Aband. Prop. Law § 1223
- Type
- Statute
- Source
- New York Abandoned Property Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 1223. Alternative to escheat. If it appears from the records of the United States that the rightful owner of any property subject to escheat under this article has not made claim thereto for seven years and the attorney general does not deem it advisable to institute an escheat proceeding…
Citator
N.Y. Aband. Prop. Law § 1223 — Alternative to escheat is in force in the current edition of the Code, and nothing recorded condemns it.
§ 1223. Alternative to escheat. If it appears from the records of the United States that the rightful owner of any property subject to escheat under this article has not made claim thereto for seven years and the attorney general does not deem it advisable to institute an escheat proceeding with respect thereto, or has instituted such a proceeding but has not obtained a judgment of escheat therein, such unclaimed property may be deemed abandoned property and shall be paid or delivered to the state comptroller for disposition in accordance with the provisions of this chapter and the provisions of section ninety-five of the state finance law.