Minnesota Session Laws - 1991, Regular Session

  

                         Laws of Minnesota 1991 

                         CHAPTER 11-S.F.No. 246 
           An act relating to probate; increasing the limit on an 
          estate subject to collection of personal property by 
          affidavit; amending Minnesota Statutes 1990, section 
          524.3-1201. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1990, section 524.3-1201, is 
amended to read: 
    524.3-1201 [COLLECTION OF PERSONAL PROPERTY BY AFFIDAVIT.] 
    (a) Thirty days after the death of a decedent, any person 
indebted to the decedent or having possession of tangible 
personal property or an instrument evidencing a debt, 
obligation, stock or chose in action belonging to the decedent 
shall make payment of the indebtedness or deliver the tangible 
personal property or an instrument evidencing a debt, 
obligation, stock or chose in action to a person claiming to be 
the successor of the decedent, or a county agency with a claim 
authorized by section 256B.15, upon being presented a certified 
death certificate of the decedent and an affidavit, in 
duplicate, made by or on behalf of the successor stating that: 
    (1) the value of the entire probate estate, wherever 
located, less liens and encumbrances, does not exceed 
$5,000 $10,000; 
    (2) 30 days have elapsed since the death of the decedent; 
    (3) no application or petition for the appointment of a 
personal representative is pending or has been granted in any 
jurisdiction; and 
     (4) the claiming successor is entitled to payment or 
delivery of the property. 
     (b) A transfer agent of any security shall change the 
registered ownership on the books of a corporation from the 
decedent to the successor or successors upon the presentation of 
an affidavit as provided in subsection (a). 
     (c) The claiming successor or county agency shall disburse 
the proceeds collected under this section to any person with a 
superior claim under section 524.3-805 or 525.15. 
    Presented to the governor March 22, 1991 
    Signed by the governor March 26, 1991, 9:40 a.m.