Florida Statutes
Chapter 717 - Disposition of Unclaimed Property
717.1201 - Custody by State; Holder Relieved From Liability; Reimbursement of Holder Paying Claim; Reclaiming for Owner; Defense of Holder; Payment of Safe-Deposit Box or Repository Charges.


(1) Upon the payment or delivery of property to the department, the state assumes custody and responsibility for the safekeeping of property. Any person who pays or delivers property to the department in good faith is relieved of all liability to the extent of the value of the property paid or delivered for any claim then existing or which thereafter may arise or be made in respect to the property.
(2) Any holder who has paid money to the department pursuant to this chapter may make payment to any person appearing to be entitled to payment and, upon filing proof that the payee is entitled thereto, the department shall forthwith repay the holder without deduction of any fee or other charges. If repayment is sought for a payment made on a negotiable instrument, including a traveler’s check or money order, the holder must be repaid under this subsection upon filing proof that the instrument was duly presented and that the payee is entitled to payment. The holder shall be repaid for payment made under this subsection even if the payment was made to a person whose claim was barred under s. 717.129(1).
(3) Any holder who has delivered property, including a certificate of any interest in a business association, other than money to the department pursuant to this chapter may reclaim the property if still in the possession of the department, without payment of any fee or other charges, upon filing proof that the owner has claimed the property from the holder.
(4) The department may accept an affidavit of the holder stating the facts that entitle the holder to recover money and property under this section as sufficient proof.
(5) If the holder pays or delivers property to the department in good faith and thereafter any other person claims the property from the holder paying or delivering, or another state claims the money or property under that state’s laws relating to escheat or abandoned or unclaimed property, the department, upon written notice of the claim, shall defend the holder against the claim and indemnify the holder against any liability on the claim.
(6) For the purposes of this section, “good faith” means that:
(a) Payment or delivery was made in a reasonable attempt to comply with this chapter.
(b) The person delivering the property was not a fiduciary then in breach of trust in respect to the property and had a reasonable basis for believing, based on the facts then known to that person, that the property was unclaimed for the purposes of this chapter.
(c) There is no showing that the records pursuant to which the delivery was made did not meet reasonable commercial standards of practice in the industry.

(7) Property removed from a safe-deposit box or other safekeeping repository is received by the department subject to the holder’s right under this subsection to be reimbursed for the actual cost of the opening and to any valid lien or contract providing for the holder to be reimbursed for unpaid rent or storage charges. The department shall make the reimbursement to the holder out of the proceeds remaining after the deduction of the department’s selling cost.
History.—s. 21, ch. 87-105; s. 20, ch. 2001-36; s. 118, ch. 2004-390.

Structure Florida Statutes

Florida Statutes

Title XL - Real and Personal Property

Chapter 717 - Disposition of Unclaimed Property

717.001 - Short Title.

717.101 - Definitions.

717.102 - Property Presumed Unclaimed; General Rule.

717.103 - General Rules for Taking Custody of Intangible Unclaimed Property.

717.1035 - Property Originated or Issued by This State, Any Political Subdivision of This State, or Any Entity Incorporated, Organized, Created, or Otherwise Located in the State.

717.104 - Traveler’s Checks and Money Orders.

717.1045 - Gift Certificates and Similar Credit Items.

717.105 - Checks, Drafts, and Similar Instruments Issued or Certified by Banking and Financial Organizations.

717.106 - Bank Deposits and Funds in Financial Organizations.

717.107 - Funds Owing Under Life Insurance Policies, Annuity Contracts, and Retained Asset Accounts; Fines, Penalties, and Interest; United States Social Security Administration Death Master File.

717.1071 - Lost Owners of Unclaimed Demutualization, Rehabilitation, or Related Reorganization Proceeds.

717.108 - Deposits Held by Utilities.

717.109 - Refunds Held by Business Associations.

717.1101 - Unclaimed Equity and Debt of Business Associations.

717.111 - Property of Business Associations Held in Course of Dissolution.

717.112 - Property Held by Agents and Fiduciaries.

717.1125 - Property Held by Fiduciaries Under Trust Instruments.

717.113 - Property Held by Courts and Public Agencies.

717.115 - Wages.

717.116 - Contents of Safe-Deposit Box or Other Safekeeping Repository.

717.117 - Report of Unclaimed Property.

717.118 - Notification of Apparent Owners of Unclaimed Property.

717.119 - Payment or Delivery of Unclaimed Property.

717.1201 - Custody by State; Holder Relieved From Liability; Reimbursement of Holder Paying Claim; Reclaiming for Owner; Defense of Holder; Payment of Safe-Deposit Box or Repository Charges.

717.121 - Crediting of Dividends, Interest, or Increments to Owner’s Account.

717.122 - Public Sale of Unclaimed Property.

717.123 - Deposit of Funds.

717.1235 - Dormant Campaign Accounts; Report of Unclaimed Property.

717.124 - Unclaimed Property Claims.

717.12403 - Unclaimed Demand, Savings, or Checking Account in a Financial Institution Held in the Name of More Than One Person.

717.12404 - Claims on Behalf of a Business Entity or Trust.

717.12405 - Claims by Estates.

717.12406 - Joint Ownership of Unclaimed Securities or Dividends.

717.1241 - Conflicting Claims.

717.1242 - Restatement of Jurisdiction of the Circuit Court Sitting in Probate and the Department.

717.1243 - Small Estate Accounts.

717.1244 - Determinations of Unclaimed Property Claims.

717.1245 - Garnishment of Unclaimed Property.

717.125 - Claim of Another State to Recover Property; Procedure.

717.126 - Administrative Hearing; Burden of Proof; Proof of Entitlement; Venue.

717.1261 - Death Certificates.

717.1262 - Court Documents.

717.127 - Election to Take Payment or Delivery.

717.128 - Destruction or Disposition of Property Having Insubstantial Commercial Value; Immunity From Liability.

717.129 - Periods of Limitation.

717.1301 - Investigations; Examinations; Subpoenas.

717.1311 - Retention of Records.

717.1315 - Retention of Records by Claimant’s Representatives and Buyers of Unclaimed Property.

717.132 - Enforcement; Cease and Desist Orders; Fines.

717.1322 - Administrative and Civil Enforcement.

717.1323 - Prohibited Practice.

717.133 - Interstate Agreements and Cooperation; Joint and Reciprocal Actions With Other States.

717.1331 - Actions Against Holders.

717.1333 - Evidence; Estimations; Audit Reports, Examiner’s Worksheets, Investigative Reports, Other Related Documents.

717.134 - Penalties and Interest.

717.1341 - Invalid Claims, Recovery of Property, Interest and Penalties.

717.135 - Recovery Agreements and Purchase Agreements for Claims Filed by a Claimant’s Representative; Fees and Costs.

717.1355 - Theme Park and Entertainment Complex Tickets.

717.136 - Foreign Transactions.

717.138 - Rulemaking Authority.

717.1382 - United States Savings Bond; Unclaimed Property; Escheatment; Procedure.

717.1383 - United States Savings Bond; Claim for Bond.

717.139 - Uniformity of Application and Construction.

717.1400 - Registration.

717.1401 - Repeal.