§ 4001 — Definition of abandoned personal property

(a) For the purposes of this chapter “abandoned personal property” shall be deemed to be tangible personal property which the rightful owner has left in the care or custody of another person and has failed to maintain, pay for the storage of, exercise dominion or control over, and has failed to otherwise assert or declare the ownership rights to the tangible personal property for a period of 1 year.

(b) The following personal property shall not be deemed to be “abandoned personal property”:

(1) Marital property subject to division in a proceeding for divorce or annulment under § 1513 of Title 13;

(2) Personal property which has been stolen or otherwise taken from its rightful owner in violation of Title 11;

(3) Personal property which has been taken from the rightful owner by conversion;

(4) Personal property of a person who dies intestate subject to subchapter I of Chapter 11 of Title 12;

(5) Unclaimed property held by banking organizations as defined by subchapter II of Chapter 11 of Title 12;

(6) Any intangible personal property and the tangible evidence thereof under Chapter 11 of Title 12; or

(7) Personal property in a motor vehicle that is not attached to or considered necessary for the proper operation of the motor vehicle if the owner of the personal property files an answer to the petition pursuant to § 4003 of this title.

Legislative History

72 Del. Laws, c. 192, § 1 ; 78 Del. Laws, c. 21, § 1 ; 83 Del. Laws, c. 125, § 4