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Form MC25 Notice of Intent to Escheat Unclaimed Personal Property - Michigan
What Is Form MC25?
This is a legal form that was released by the Michigan Courts - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is the MC25 Notice of Intent to Escheat Unclaimed Personal Property?A: The MC25 Notice of Intent to Escheat Unclaimed Personal Property is a form in Michigan used to notify the owners of unclaimed property.
Q: What is unclaimed personal property?A: Unclaimed personal property refers to any financial assets or tangible items that have been abandoned or left unattended by their rightful owners.
Q: Why would someone need to file the MC25 Notice?A: Someone would need to file the MC25 Notice to comply with Michigan's escheat laws, which require the reporting and remittance of unclaimed property to the state.
Q: Who needs to file the MC25 Notice?A: The MC25 Notice must be filed by entities such as banks, insurance companies, corporations, and other organizations that hold unclaimed property.
Q: What happens after the MC25 Notice is filed?A: After filing the MC25 Notice, the state of Michigan will initiate the process of escheating the unclaimed property and making efforts to locate and notify the rightful owners.
Q: What are the consequences of not filing the MC25 Notice?A: Failure to file the MC25 Notice or comply with Michigan's escheat laws may result in penalties or legal consequences for the entity holding the unclaimed property.
Form Details:
- Released on April 1, 2016;
- The latest edition provided by the Michigan Courts;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form MC25 by clicking the link below or browse more documents and templates provided by the Michigan Courts.
