18-A §3-1201. Collection of personal property by affidavit
Title 18-A: PROBATE CODE
Article 3: PROBATE OF WILLS AND ADMINISTRATION
Part 12: COLLECTION OF PERSONAL PROPERTY BY AFFIDAVIT AND SUMMARY ADMINISTRATION PROCEDURES FOR SMALL ESTATES
§3-1201. Collection of personal property by affidavit
(a). Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor stating that:
(1). The value of the entire estate, wherever located, less liens and encumbrances, does not exceed $20,000; [2007, c. 30, §1 (AMD).]
(2). Thirty days have elapsed since the death of the decedent; [1979, c. 540, §1 (NEW).]
(3). No application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction; and [1979, c. 540, §1 (NEW).]
(4). The claiming successor is entitled to payment or delivery of the property. [1979, c. 540, §1 (NEW).]
[ 2007, c. 30, §1 (AMD) .]
(b). A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in subsection (a).
[ 1979, c. 540, §1 (NEW) .]
SECTION HISTORY
1979, c. 540, §1 (NEW). 2007, c. 30, §1 (AMD).