SB199 Alabama 2020 Session

Sponsors

Session

Regular Session 2020

Title

Estates, without heirs, escheats to state, judge of probate to pay one-half of amount over $250,000 to county where prohibited, remainder to State Treasurer, funds used for education purposes, Sec. 43-6-7 am'd.

Description

<p class="bill_description"> Under existing law, funds received by the judge of probate from an estate without heirs are paid to the State Treasurer. Section 258 of the Constitution of Alabama of 1901, now appearing as Section 258 of the Recompiled Constitution of Alabama of 1901, as amended, provides that estates of persons who die without heirs are required to be used for education purposes</p><p class="bill_description"> This bill would provide that if the proceeds from an estate sale without heirs exceed $250,000, one-half of the net proceeds over $250,000 would be paid to the county where the estate was probated and the remainder would be paid to the State Treasurer to be used for education purposes</p><p class="bill_entitled_an_act"> Relating to funds in an estate with no heirs; to amend Section 43-6-7, Code of Alabama 1975, to provide for the distribution of a portion of the net proceeds from the estate to the county where the estate was probated if the proceeds exceed a certain amount to be used for education purposes. </p>

Subjects

Estates