Chapter 15 - Absent Beneficiaries - Wyoming Statutes

CHAPTER 15 - ABSENT BENEFICIARIES

 

2-15-101. Court may appoint agent to care for property.

 

Whenany estate is assigned or distributed by a judgment or decree of the court to anyperson residing out of and having no agent in this state, and it is necessarythat some person be authorized to take possession and charge of the estate forthe benefit of the absent person, the court may appoint an agent for thatpurpose and authorize him to take charge of the estate as well as to act forthe absent person in the distribution.

 

2-15-102. Bond of agent; compensation.

 

Theagent shall execute a bond to the state of Wyoming, to be approved by thecourt, conditioned that he faithfully manage and account for the estate. Thecourt appointing the agent may allow a reasonable sum out of the estate for hisservices and expenses.

 

2-15-103. Locating person entitled; proceedings if unable.

 

Theagent shall, with diligence, attempt to locate the person entitled to theproperty and notify that person of the agent's possession thereof. If the agentis unable to locate the person within one (1) year after the agent'sappointment, the agent shall advise the court, with a showing of the agent'sefforts to locate the person. The court may direct further efforts to locatethe person entitled as the court deems appropriate.

 

2-15-104. Disposition of unclaimed property.

 

Whenreal or personal property remains in the hands of the agent unclaimed for one (1)year, the agent shall petition the court for an order directing the sale of theproperty. If it appears to the court that it is for the benefit of allinterested parties the property shall be sold under the order of the court andthe proceeds, after deducting the expenses of the sale allowed by the court, beheld by the agent in a fiduciary capacity subject to the provisions of theUniform Unclaimed Property Act, W.S. 34-24-101 through 34-24-140.

 

2-15-105. Agent to render annual account; information to be shown;hearing; court may order sale of property.

 

(a) The agent shall render an annual account to the courtappointing him showing:

 

(i) The value and character of the property received by him,the portion thereof is still on hand, the portion sold and the proceeds ofsales;

 

(ii) The income derived from the property;

 

(iii) The kind and amount of taxes and assessments imposed andwhether paid or unpaid;

 

(iv) Expenses incurred in the care, protection and management ofthe property and whether paid or unpaid.

 

(b) When filed, the court may examine witnesses and take proofsin regard to the account. If satisfied that it will be for the benefit of thepersons interested therein, the court may order a sale to be made of the wholeor such parts of the real or personal property as appears proper and thepurchase money to be held by the agent in a fiduciary capacity subject to theprovisions of the Uniform Unclaimed Property Act, W.S. 34-24-101 through34-24-140.

 

2-15-106. Liability of agent.

 

Theagent is liable on his bond for the care and preservation of the estate whilein his hands and for disposition of the proceeds of the sale as required bythis chapter, and may be sued thereon by any person interested, or such suitmay be ordered by the court.

 

2-15-107. Repealed by Laws 1993, ch. 213, 3.