Pennsylvania SB844 amends the claim process for abandoned and unclaimed property, increasing the threshold for automatic payment to $10,000.

Pennsylvania SB844 amends the process for claiming abandoned and unclaimed property in the state. Specifically, it changes the threshold for automatic payment by the State Treasurer from $500 to $10,000. Any person claiming an interest in property paid or delivered to the Commonwealth can file a claim, but the State Treasurer can also pay or deliver property if a report identifies the claimant as the sole owner and the value is under $10,000. This change affects the disposition of unclaimed property and the procedures for claiming such assets.

Pennsylvania SB844 amends the claim process for abandoned and unclaimed property, increasing the threshold for automatic payment to $10,000.

Pennsylvania SB844 amends the process for claiming abandoned and unclaimed property in the state. Specifically, it changes the threshold for automatic payment by the State Treasurer from $500 to $10,000. Any person claiming an interest in property paid or delivered to the Commonwealth can file a claim, but the State Treasurer can also pay or deliver property if a report identifies the claimant as the sole owner and the value is under $10,000. This change affects the disposition of unclaimed property and the procedures for claiming such assets.