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Tax and Revenue Administration
Unclaimed Personal Property and Vested Property Act
Information Circular UP-3R1


Released: March 8, 2012
Produced by: Alberta Treasury Board and Finance, Tax and Revenue Administration
For more information: unclaimed.property@gov.ab.ca

UP-3R1 / March 2012

UNCLAIMED PERSONAL PROPERTY AND VESTED PROPERTY ACT INFORMATION CIRCULAR:
CLAIMING PERSONAL AND VESTED PROPERTY

NOTE: This information circular is intended to explain legislation and provide specific information. Every effort has been made to ensure the contents are accurate. However, if a discrepancy should occur in interpretation between this information circular and governing legislation, the legislation takes precedence.

 

DEFINITION OF A CLAIMANT

  1. A claimant is a person or entity, or their legal representative, that has an apparent legal or financial ownership interest in the property held by TRA under the Act.

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SEARCHING FOR PROPERTY

  1. References to unclaimed property in this circular include personal and vested property.  Personal property is any tangible or intangible asset that is not land. Vested property is property that has reverted to the Crown, either from a person who died without known heirs or from a dissolved business, society or cooperative that did not dispose of it before the date of dissolution.

  2. Tangible personal property is any physical property, such as artwork, jewellery or furniture, that is not land and has a net value of $1000 or more.

  3. Intangible personal property is an interest, such as money, uncashed cheques or unpaid salaries with a net value of $250 or more that is held, issued or owing by a business organization or government.  For more information, see the “Definitions” section in Information Circular UP-1, General Information.

  4. Personal property is considered unclaimed if the holder of that property is unable to contact the apparent owner within a specified timeframe (see Appendix A, Information Circular UP-2, Property Holders.  When property is considered unclaimed under the Act, it is transferred to, and managed by, Alberta Treasury Board and Finance, Tax and Revenue Administration (TRA), who administers the Act on behalf of the Minister.

  5. TRA may charge reasonable expenses and fees for administering the property.

  6. Potential owners or creditors can search for unclaimed property, free of charge, in TRA’s Unclaimed Property Registry.  The Alberta registry is accessible through our website from which over 40 jurisdictions within North America can also be searched using the MissingMoney.com link. 

  7. Not all unclaimed property is governed by this Act.  If you are unable to locate property you consider unclaimed, search for it under other legislation or contact whoever last held the property.

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CLAIMING PROPERTY

  1. To submit a claim, enter the information requested on the website. You must submit the claim within 10 years of the date the property was reported as unclaimed. TRA may ask you to provide satisfactory proof that you are the rightful owner of the property.

  2. If a dissolved corporation, society or cooperative is revived within five years of September 1, 2008 or the date of dissolution, whichever is the later, then it may file a claim for any property transferred to TRA.  The claimant must provide satisfactory proof of ownership to support the claim.

  3. All claims are processed within 120 days of receipt, unless additional information is required.

  4. Property from processed claims will be returned to the owner within 30 days, provided there are no outstanding property administration fees, or fees or charges from the time the property was declared unclaimed.

  5. If a balance remains outstanding 120 days after TRA advised the claimant of an amount owed, the property may be sold and the proceeds used to offset this balance.  Any remaining amount from the sale would be paid to the claimant within 30 days of the sale.

  6. The owner is responsible for any delivery charges incurred by TRA for returning the property.

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ESTATES

  1. A person who believes he/she is entitled to property through succession or inheritance may make a claim to TRA.

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OBJECTIONS

  1. If you disagree with a decision regarding the filed claim, contact TRA for an explanation. If the disagreement cannot be resolved through discussion with TRA, you may file a notice of objection, provided the underlying issues have not been previously submitted to, or settled conclusively by, a court. Form AT4954, "Unclaimed Property Notice of Objection," has to be filed within 120 days of the TRA’s decision. You are required to send the notice by certified or registered mail along with all notices relating to the objection to the address on the back of the form.

  2. A separate notice of objection should be filed for each claim in dispute, setting out the reasons for objecting and all relevant facts.  All applicable parts of the form must be completed.

  3. An appeal to the Court of Queen’s Bench must be filed with the court and TRA within 30 days of your receipt of the final determination.

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