(755 ILCS 5/19-11)
(from Ch. 110 1/2, par. 19-11)
Desperate personal estate of decedent.) (a) Upon
suggestion made in the final account or report or on petition of a
representative stating that any personal estate of the
decedent other than goods and chattels is of desperate
value and giving the reasons therefor, the court may order
the evidence of the desperate personal estate to be deposited
with the clerk of the court for the benefit of such of the
heirs, legatees or creditors of the decedent as may be entitled
thereto, except that if it appears to the court that the
desperate personal estate or any part thereof is totally
worthless the court may direct the representative to destroy
or otherwise dispose of the evidence thereof and file an
affidavit of destruction or disposition with the clerk.
Notice of the hearing on a petition under this Section
shall be given, as the court directs, to unpaid creditors
and to every person entitled to a share of the estate who
has not received that share in full, but no notice need be
given to any person who waives notice. After the deposit
is made or the affidavit is filed the representative has no
further responsibility with respect to or liability for the
desperate personal estate.
(b) By leave of court any heir, legatee or creditor having
an interest in any deposited personal estate may take action
necessary to realize its value, in the name of the representative
or in his own name. Upon realizing the value of the desperate
personal estate or any part thereof, the heir, legatee or creditor
shall report to the court and be chargeable therewith and, after
deducting his claim or distributive share and reasonable
compensation for realizing the value, shall distribute the
overplus as directed by the court. The representative is not
liable for costs or other expenses incurred in any proceeding
or action under this Section.
(c) At any time after 21 years following the deposit of any
desperate personal estate, by leave of the court, the clerk
may destroy or otherwise dispose of the evidence without notice
or upon such notice to interested persons as the court directs
and shall place a certificate of destruction or of disposition
in the estate file.
Any sums realized from the disposition of said personal property shall
be transferred by the clerk pursuant to an order of court to the county
treasurer of the county in which the estate was administered for deposit
into the general fund of the county.
Any person having a right thereto may file a claim with the court which
ordered the disposition of the property for the sum realized from such
disposition. Upon proof of the claimant's right thereto the court may enter
an order upon the county treasurer to pay the claimant the amount to which
the claimant is entitled without interest.
Unless a claim is filed within one year from the date of the order
transferring the sums realized to the county treasurer said sums shall
escheat to and become the property of the county.
(Source: P.A. 84-555; 84-690.)