Pennsylvania Act 1869-48 — ESCHEATS - DECLARE AND REGULATE

Act text

A FURTHER SUPPLEMENT

To an act, entitled "An Act to declare and regulate escheats," passed the twenty-ninth day of September, Anno Domini one thousand seven hundred and eighty-seven.

Section 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That whenever any cestui que trust has heretofore or shall hereafter die intestate, without heirs or any known kindred, a widow or surviving husband, the beneficial interest of such cestui que trust in any property or effects, real, personal or mixed, shall escheat to the commonwealth, subject to all legal demands on the same.

Section 2. Whenever any trustee is or shall be seized or possessed of any property or effects, real, personal or mixed, the cestui que trust or cestuis que trust whereof have been or shall be unknown for the space of seven years, the beneficial interest of such cestui que trust or cestuis que trust therein shall escheat to the commonwealth, subject to all legal demands on the same.

Section 3. Property held by trustees, etc.

Whenever any trustee, bailee or other depositary is or shall be seized or possessed of property, real, personal or mixed, as a fiduciary agent, which property is or shall be without a rightful owner, the same shall escheat to the Commonwealth, subject to all legal demands on the same. 1869, April 17, P.L. 71, Sec. 3.