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RULE 10-605. DISTRIBUTION

West's Annotated Code of MarylandMaryland Rules

West's Annotated Code of Maryland
Maryland Rules
Title 10. Guardians and Other Fiduciaries
Chapter 600. Absent or Unknown Persons
MD Rules, Rule 10-605
RULE 10-605. DISTRIBUTION
Currentness
(a) Generally. After the expiration of the time fixed in the order of publication for pleading by a person whose identity or whereabouts is unknown, the court may enter an appropriate order distributing the property.
(b) To Abandoned Property Fund. If the court finds that all reasonable efforts have been made to locate a person whose identity or whereabouts is unknown and that person has not appeared, the court shall order the property distributable to that person, after allowing costs, to be distributed to the abandoned property fund pursuant to Code, Commercial Law Article, ยง 17-317.
(c) Retention by Fiduciary or Distribution to Trustee.
(1) Order. The court may order the fiduciary to retain or transfer to a trustee appointed by the court or to deposit with the clerk the share to which the person whose identity or whereabouts is unknown is entitled, and order any income to be accumulated for the time the court directs.
(2) Bond. The court may order a trustee to whom the property is transferred to furnish a bond to the State in an amount and for a time period prescribed by the court.
Source: This Rule is derived from former Rule V79 e.

Credits

[Adopted June 5, 1996, eff. Jan. 1, 1997.]
MD Rules, Rule 10-605, MD R GUARD AND FIDUCIARIES Rule 10-605
Current with amendments received through February 1, 2024. Some sections may be more current, see credits for details.
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