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What is considered as unclaimed funds?


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Updated by MLAW

Upon the conclusion of the administration of the estate of a deceased, if there are monies in the hands of the Public Trustee which cannot be disposed of by distribution in accordance with the law, the Public Trustee shall credit those funds to the Unclaimed Estate Account.

These funds shall be kept in the account for 7 years and if the monies remain unclaimed at the expiration, the funds together with any interest earned shall be paid into the Consolidated Funds. If any claim is made to the satisfactory of the Public Trustee, the amount shall be paid to the claimant without the interest from the Consolidated Funds.


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