{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2502.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2502.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2502.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2502.html"}],"law_id":65666,"edition_id":1,"section_id":65666,"structure_id":13771,"section_number":"55.1-2502","catch_line":"Taking custody of intangible unclaimed property; general rules","history":"1984, c. 121, \u00a7 55-210.2:2; 2000, cc. 733, 745; 2019, c. 712.","full_text":"Unless otherwise provided in this chapter or by other law of the Commonwealth, intangible property is subject to the custody of the Commonwealth as unclaimed property if the conditions leading to a presumption of abandonment as described in \u00a7\u00a7 55.1-2501, 55.1-2503, and 55.1-2505 through 55.1-2521 are satisfied and:\n\n1\n\nThe last known address, as shown on the records of the holder, of the apparent owner is in the Commonwealth;2\n\nThe records of the holder do not reflect the identity of the person entitled to the property, and it is established that the last known address of the person entitled to the property is in the Commonwealth;3\n\nThe records of the holder do not reflect the last known address of the apparent owner, and it is established that (i) the last known address of the person entitled to the property is in the Commonwealth or (ii) the holder is a domiciliary or a government or governmental subdivision or agency of the Commonwealth and has not previously paid the property to the state of the last known address of the apparent owner or other person entitled to the property;4\n\nThe last known address, as shown on the records of the holder, of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property, or its escheat or unclaimed property law is not applicable to the property, and the holder is a domiciliary or a government or governmental subdivision or agency of the Commonwealth;5\n\nThe last known address, as shown on the records of the holder, of the apparent owner is in a foreign nation, and the holder is a domiciliary or a government or governmental subdivision or agency of the Commonwealth; or6\n\na. The transaction out of which the property arose occurred in the Commonwealth, and (i) the last known address of the apparent owner or other person entitled to the property is unknown or (ii) the last known address of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property, or its escheat or unclaimed property law is not applicable to the property; and\n\t\t\tb. The holder is a domiciliary of a state that does not provide by law for the escheat or custodial taking of the property, or its escheat or unclaimed property law is not applicable to the property.","order_by":null,"text":{"0":{"id":238666,"text":"Unless otherwise provided in this chapter or by other law of the Commonwealth, intangible property is subject to the custody of the Commonwealth as unclaimed property if the conditions leading to a presumption of abandonment as described in \u00a7\u00a7 55.1-2501, 55.1-2503, and 55.1-2505 through 55.1-2521 are satisfied and:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":238667,"text":"The last known address, as shown on the records of the holder, of the apparent owner is in the Commonwealth;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":238668,"text":"The records of the holder do not reflect the identity of the person entitled to the property, and it is established that the last known address of the person entitled to the property is in the Commonwealth;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":238669,"text":"The records of the holder do not reflect the last known address of the apparent owner, and it is established that (i) the last known address of the person entitled to the property is in the Commonwealth or (ii) the holder is a domiciliary or a government or governmental subdivision or agency of the Commonwealth and has not previously paid the property to the state of the last known address of the apparent owner or other person entitled to the property;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":238670,"text":"The last known address, as shown on the records of the holder, of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property, or its escheat or unclaimed property law is not applicable to the property, and the holder is a domiciliary or a government or governmental subdivision or agency of the Commonwealth;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":238671,"text":"The last known address, as shown on the records of the holder, of the apparent owner is in a foreign nation, and the holder is a domiciliary or a government or governmental subdivision or agency of the Commonwealth; or","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":238672,"text":"a. The transaction out of which the property arose occurred in the Commonwealth, and (i) the last known address of the apparent owner or other person entitled to the property is unknown or (ii) the last known address of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property, or its escheat or unclaimed property law is not applicable to the property; and\n\t\t\tb. The holder is a domiciliary of a state that does not provide by law for the escheat or custodial taking of the property, or its escheat or unclaimed property law is not applicable to the property.","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5"}},"ancestry":[{"id":13771,"edition_id":1,"name":"Definitions; Property Abandoned or Assumed Abandoned","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":12709,"metadata":{},"date_created":"2026-06-26 03:45:50","date_modified":"2026-06-26 03:45:50","permalink":{"id":247945,"object_type":"structure","relational_id":13771,"identifier":"1","token":"55.1\/V\/25\/1","url":"\/55.1\/V\/25\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12709,"edition_id":1,"name":"Virginia Disposition Of Unclaimed Property Act","identifier":"25","label":"chapter","depth":3,"order_by":1,"parent_id":12708,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":247943,"object_type":"structure","relational_id":12709,"identifier":"25","token":"55.1\/V\/25","url":"\/55.1\/V\/25\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12708,"edition_id":1,"name":"Miscellaneous","identifier":"V","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":247771,"object_type":"structure","relational_id":12708,"identifier":"V","token":"55.1\/V","url":"\/55.1\/V\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58539,"structure_id":13771,"section_number":"55.1-2500","catch_line":"Definitions","url":"\/55.1-2500\/","token":"55.1\/V\/25\/1\/55.1-2500","metadata":false},{"id":73294,"structure_id":13771,"section_number":"55.1-2501","catch_line":"Property presumed abandoned; general rule","url":"\/55.1-2501\/","token":"55.1\/V\/25\/1\/55.1-2501","metadata":false},{"id":65666,"structure_id":13771,"section_number":"55.1-2502","catch_line":"Taking custody of intangible unclaimed property; general rules","url":"\/55.1-2502\/","token":"55.1\/V\/25\/1\/55.1-2502","metadata":false},{"id":77387,"structure_id":13771,"section_number":"55.1-2503","catch_line":"Bank deposits and funds in financial organizations","url":"\/55.1-2503\/","token":"55.1\/V\/25\/1\/55.1-2503","metadata":false},{"id":73776,"structure_id":13771,"section_number":"55.1-2504","catch_line":"Traveler's checks and money orders","url":"\/55.1-2504\/","token":"55.1\/V\/25\/1\/55.1-2504","metadata":false},{"id":72388,"structure_id":13771,"section_number":"55.1-2505","catch_line":"Checks, drafts, and similar instruments issued or certified by banking and financial organizations","url":"\/55.1-2505\/","token":"55.1\/V\/25\/1\/55.1-2505","metadata":false},{"id":64112,"structure_id":13771,"section_number":"55.1-2506","catch_line":"Contents of safe deposit box or other safekeeping repository","url":"\/55.1-2506\/","token":"55.1\/V\/25\/1\/55.1-2506","metadata":false},{"id":78230,"structure_id":13771,"section_number":"55.1-2507","catch_line":"Funds owing under life insurance policies","url":"\/55.1-2507\/","token":"55.1\/V\/25\/1\/55.1-2507","metadata":false},{"id":62766,"structure_id":13771,"section_number":"55.1-2508","catch_line":"Intangible personal property held by insurance corporation subject to \u00a7 55.1-2501","url":"\/55.1-2508\/","token":"55.1\/V\/25\/1\/55.1-2508","metadata":false},{"id":85940,"structure_id":13771,"section_number":"55.1-2509","catch_line":"Unclaimed demutualization proceeds","url":"\/55.1-2509\/","token":"55.1\/V\/25\/1\/55.1-2509","metadata":false},{"id":84156,"structure_id":13771,"section_number":"55.1-2510","catch_line":"Deposits held by utilities","url":"\/55.1-2510\/","token":"55.1\/V\/25\/1\/55.1-2510","metadata":false},{"id":65661,"structure_id":13771,"section_number":"55.1-2511","catch_line":"Intangible interest in business association","url":"\/55.1-2511\/","token":"55.1\/V\/25\/1\/55.1-2511","metadata":false},{"id":59201,"structure_id":13771,"section_number":"55.1-2512","catch_line":"Refunds held by business associations","url":"\/55.1-2512\/","token":"55.1\/V\/25\/1\/55.1-2512","metadata":false},{"id":56945,"structure_id":13771,"section_number":"55.1-2513","catch_line":"Property of business associations held in course of dissolution","url":"\/55.1-2513\/","token":"55.1\/V\/25\/1\/55.1-2513","metadata":false},{"id":83377,"structure_id":13771,"section_number":"55.1-2514","catch_line":"Intangible personal property held in fiduciary capacity","url":"\/55.1-2514\/","token":"55.1\/V\/25\/1\/55.1-2514","metadata":false},{"id":75833,"structure_id":13771,"section_number":"55.1-2515","catch_line":"Gift certificates and credit balances","url":"\/55.1-2515\/","token":"55.1\/V\/25\/1\/55.1-2515","metadata":false},{"id":71400,"structure_id":13771,"section_number":"55.1-2516","catch_line":"Wages","url":"\/55.1-2516\/","token":"55.1\/V\/25\/1\/55.1-2516","metadata":false},{"id":72310,"structure_id":13771,"section_number":"55.1-2517","catch_line":"Intangible property held for owner by public agency","url":"\/55.1-2517\/","token":"55.1\/V\/25\/1\/55.1-2517","metadata":false},{"id":54779,"structure_id":13771,"section_number":"55.1-2518","catch_line":"Property held by courts","url":"\/55.1-2518\/","token":"55.1\/V\/25\/1\/55.1-2518","metadata":false},{"id":68278,"structure_id":13771,"section_number":"55.1-2519","catch_line":"Responsibilities of general receiver and clerk","url":"\/55.1-2519\/","token":"55.1\/V\/25\/1\/55.1-2519","metadata":false},{"id":55072,"structure_id":13771,"section_number":"55.1-2520","catch_line":"Employee benefit trust distribution","url":"\/55.1-2520\/","token":"55.1\/V\/25\/1\/55.1-2520","metadata":false},{"id":75309,"structure_id":13771,"section_number":"55.1-2521","catch_line":"Holder of tangible or intangible personal property may voluntarily report such property","url":"\/55.1-2521\/","token":"55.1\/V\/25\/1\/55.1-2521","metadata":false}],"previous_section":{"id":73294,"structure_id":13771,"section_number":"55.1-2501","catch_line":"Property presumed abandoned; general rule","url":"\/55.1-2501\/","token":"55.1\/V\/25\/1\/55.1-2501","metadata":false},"next_section":{"id":77387,"structure_id":13771,"section_number":"55.1-2503","catch_line":"Bank deposits and funds in financial organizations","url":"\/55.1-2503\/","token":"55.1\/V\/25\/1\/55.1-2503","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2502\/","history_text":"<p>This law was first created in 1984. The record of its establishment is cataloged in chapter 121 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1984 \u201cActs\u201d aren\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2000, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?001+ful+CHAP0733\">733<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?001+ful+CHAP0745\">745<\/a>; in 2019, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?191+ful+CHAP0712\">712<\/a>.<\/p>","references":false,"refers_to":[{"id":73294,"section_number":"55.1-2501","catch_line":"Property presumed abandoned; general rule","order_by":null,"url":"\/55.1-2501\/"},{"id":77387,"section_number":"55.1-2503","catch_line":"Bank deposits and funds in financial organizations","order_by":null,"url":"\/55.1-2503\/"},{"id":72388,"section_number":"55.1-2505","catch_line":"Checks, drafts, and similar instruments issued or certified by banking and financial organizations","order_by":null,"url":"\/55.1-2505\/"},{"id":75309,"section_number":"55.1-2521","catch_line":"Holder of tangible or intangible personal property may voluntarily report such property","order_by":null,"url":"\/55.1-2521\/"}],"permalink":{"id":247955,"object_type":"law","relational_id":65666,"identifier":"55.1-2502","token":"55.1\/V\/25\/1\/55.1-2502","url":"\/55.1-2502\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2502\/","token":"55.1\/V\/25\/1\/55.1-2502","dublin_core":{"Title":"Taking custody of intangible unclaimed property; general rules","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2502","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Unless otherwise provided in this chapter or by other <span class=\"dictionary\">law<\/span> of the Commonwealth, <span class=\"dictionary\">intangible property<\/span> is subject to the <span class=\"dictionary\">custody<\/span> of the Commonwealth as <span class=\"dictionary\">unclaimed property<\/span> if the conditions leading to a <span class=\"dictionary\">presumption<\/span> of abandonment as described in \u00a7\u00a7&nbsp;<a class=\"law\" title=\"Property presumed abandoned; general rule\" href=\"\/55.1-2501\/\">55.1-2501<\/a>, <a class=\"law\" title=\"Bank deposits and funds in financial organizations\" href=\"\/55.1-2503\/\">55.1-2503<\/a>, and <a class=\"law\" title=\"Checks, drafts, and similar instruments issued or certified by banking and financial organizations\" href=\"\/55.1-2505\/\">55.1-2505<\/a> through <a class=\"law\" title=\"Holder of tangible or intangible personal property may voluntarily report such property\" href=\"\/55.1-2521\/\">55.1-2521<\/a> are satisfied and:<\/p><\/section>\n\t\t\t\t\t\t<section id=\"1\"><p><span class=\"prefix-number\">1.<\/span> The <span class=\"dictionary\">last known address<\/span>, as shown on the records of the <span class=\"dictionary\">holder<\/span>, of the <span class=\"dictionary\">apparent owner<\/span> is in the Commonwealth; <a id=\"paragraph-238667\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2502\/#1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"2\"><p><span class=\"prefix-number\">2.<\/span> The records of the <span class=\"dictionary\">holder<\/span> do not reflect the identity of the <span class=\"dictionary\">person<\/span> entitled to the property, and it is established that the <span class=\"dictionary\">last known address<\/span> of the <span class=\"dictionary\">person<\/span> entitled to the property is in the Commonwealth; <a id=\"paragraph-238668\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2502\/#2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"3\"><p><span class=\"prefix-number\">3.<\/span> The records of the <span class=\"dictionary\">holder<\/span> do not reflect the <span class=\"dictionary\">last known address<\/span> of the <span class=\"dictionary\">apparent owner<\/span>, and it is established that (i) the <span class=\"dictionary\">last known address<\/span> of the <span class=\"dictionary\">person<\/span> entitled to the property is in the Commonwealth or (ii) the <span class=\"dictionary\">holder<\/span> is a domiciliary or a government or governmental subdivision or agency of the Commonwealth and has not previously paid the property to the state of the <span class=\"dictionary\">last known address<\/span> of the <span class=\"dictionary\">apparent owner<\/span> or other <span class=\"dictionary\">person<\/span> entitled to the property; <a id=\"paragraph-238669\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2502\/#3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"4\"><p><span class=\"prefix-number\">4.<\/span> The <span class=\"dictionary\">last known address<\/span>, as shown on the records of the <span class=\"dictionary\">holder<\/span>, of the <span class=\"dictionary\">apparent owner<\/span> or other <span class=\"dictionary\">person<\/span> entitled to the property is in a state that does not provide by <span class=\"dictionary\">law<\/span> for the escheat or custodial taking of the property, or its escheat or <span class=\"dictionary\">unclaimed property<\/span> <span class=\"dictionary\">law<\/span> is not applicable to the property, and the <span class=\"dictionary\">holder<\/span> is a domiciliary or a government or governmental subdivision or agency of the Commonwealth; <a id=\"paragraph-238670\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2502\/#4\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"5\"><p><span class=\"prefix-number\">5.<\/span> The <span class=\"dictionary\">last known address<\/span>, as shown on the records of the <span class=\"dictionary\">holder<\/span>, of the <span class=\"dictionary\">apparent owner<\/span> is in a foreign nation, and the <span class=\"dictionary\">holder<\/span> is a domiciliary or a government or governmental subdivision or agency of the Commonwealth; or <a id=\"paragraph-238671\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2502\/#5\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"6\"><p><span class=\"prefix-number\">6.<\/span> a. The transaction out of which the property arose occurred in the Commonwealth, and (i) the <span class=\"dictionary\">last known address<\/span> of the <span class=\"dictionary\">apparent owner<\/span> or other <span class=\"dictionary\">person<\/span> entitled to the property is unknown or (ii) the <span class=\"dictionary\">last known address<\/span> of the <span class=\"dictionary\">apparent owner<\/span> or other <span class=\"dictionary\">person<\/span> entitled to the property is in a state that does not provide by <span class=\"dictionary\">law<\/span> for the escheat or custodial taking of the property, or its escheat or <span class=\"dictionary\">unclaimed property<\/span> <span class=\"dictionary\">law<\/span> is not applicable to the property; and\n\t\t\tb. The <span class=\"dictionary\">holder<\/span> is a domiciliary of a state that does not provide by <span class=\"dictionary\">law<\/span> for the escheat or custodial taking of the property, or its escheat or <span class=\"dictionary\">unclaimed property<\/span> <span class=\"dictionary\">law<\/span> is not applicable to the property. <a id=\"paragraph-238672\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/55.1-2502\/#6\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nTAKING CUSTODY OF INTANGIBLE UNCLAIMED PROPERTY; GENERAL RULES (\u00a7 55.1-2502)\n\nUnless otherwise provided in this chapter or by other law of the Commonwealth,\nintangible property is subject to the custody of the Commonwealth as unclaimed\nproperty if the conditions leading to a presumption of abandonment as described\nin \u00a7\u00a7 55.1-2501, 55.1-2503, and 55.1-2505 through 55.1-2521 are satisfied and:\n\n1. The last known address, as shown on the records of the holder, of the\napparent owner is in the Commonwealth;\n\n2. The records of the holder do not reflect the identity of the person entitled\nto the property, and it is established that the last known address of the person\nentitled to the property is in the Commonwealth;\n\n3. The records of the holder do not reflect the last known address of the\napparent owner, and it is established that (i) the last known address of the\nperson entitled to the property is in the Commonwealth or (ii) the holder is a\ndomiciliary or a government or governmental subdivision or agency of the\nCommonwealth and has not previously paid the property to the state of the last\nknown address of the apparent owner or other person entitled to the property;\n\n4. The last known address, as shown on the records of the holder, of the\napparent owner or other person entitled to the property is in a state that does\nnot provide by law for the escheat or custodial taking of the property, or its\nescheat or unclaimed property law is not applicable to the property, and the\nholder is a domiciliary or a government or governmental subdivision or agency of\nthe Commonwealth;\n\n5. The last known address, as shown on the records of the holder, of the\napparent owner is in a foreign nation, and the holder is a domiciliary or a\ngovernment or governmental subdivision or agency of the Commonwealth; or\n\n6. a. The transaction out of which the property arose occurred in the\nCommonwealth, and (i) the last known address of the apparent owner or other\nperson entitled to the property is unknown or (ii) the last known address of the\napparent owner or other person entitled to the property is in a state that does\nnot provide by law for the escheat or custodial taking of the property, or its\nescheat or unclaimed property law is not applicable to the property; and\n\t\t\tb. The holder is a domiciliary of a state that does not provide by law for\nthe escheat or custodial taking of the property, or its escheat or unclaimed\nproperty law is not applicable to the property.\n\nHISTORY: 1984, c. 121, \u00a7 55-210.2:2; 2000, cc. 733, 745; 2019, c. 712.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}