§8504. Disposition of other unclaimed property

Any other unclaimed property found on the premises under the control of the Department shall be stored by the officer in charge of such premises and may be sold, used, destroyed, or otherwise disposed of in accordance with regulations promulgated by the Secretary if the owner thereof fails to claim same within ninety days. If undisposed of, the same may be reclaimed by the owner, such person's personal representative or next of kin, upon payment of reasonable storage charges prescribed by regulations. If sold, the net proceeds thereof shall be credited to said post fund to be expended as other assets of such fund. The person who was entitled to such property, or such person's legal representative, or assignee, shall be paid the proceeds of sale thereof, less expenses if claim therefor be made within five years from the date of finding. If the owner shall have died intestate without creditors or next of kin surviving, such proceeds shall not be paid to such person's legal representative.

( Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1258 , §5204; Pub. L. 99–576, title VII, §701(96), Oct. 28, 1986, 100 Stat. 3300 ; renumbered §8504, Pub. L. 102–40, title IV, §402(b)(1), May 7, 1991, 105 Stat. 238 ; Pub. L. 102–83, §4(a)(3), (4), (b)(1), (2)(E), Aug. 6, 1991, 105 Stat. 404 , 405.)

Editorial Notes

Amendments

1991-Pub. L. 102–40 renumbered section 5204 of this title as this section.

Pub. L. 102–83 substituted "Secretary" for "Administrator" and "Department" for "Veterans' Administration".

1986-Pub. L. 99–576 substituted "such person's" for "his" in three places.