Generally, a succession is considered unclaimed when there is no known successor or when it has not been claimed within 6 months following the person’s death. A succession is also considered unclaimed when all the successors have renounced the succession by a deed of renunciation signed before a notary or by judicial declaration.
Notices notices
Revenu Québec publishes notices indicating the names of the persons on whose behalf it is responsible for liquidating successions. The public notices can be consulted on Revenu Québec’s website and in some newspapers.
Liquidation of unclaimed property of a succession
Public notices allow the deceased person’s creditors to submit claims to the Minister of Revenue, whom then becomes the liquidator of the succession according to the Civil Code of Québec. The minister of Revenue sells the property of the succession at market value and, if possible, reimburses the creditors based on the priorities and the rank provided for in the Civil Code of Québec.
Once Revenu Québec has liquidated the succession, reimbursed the creditors, and collected the costs and fees, it tries to find the right-holders if the balance is positive.
Moreover, heirs who renounced the succession may retract their renunciation of the succession provided they do so within 10 years of the date of death. In such case, they must contact a notary who will draft a notice of retractation of renunciation, which will be entered in the register of personal and movable real rights.
If no successor retracts their renunciation of the succession, Revenu Québec hands the money over to the Minister of Finances.
Register of Unclaimed Property
The register of unclaimed property lists all the unclaimed successions administrated by the Minister of Revenue. After the liquidation of the succession, if its balance is positive, the amount is listed to the register.
Right-holder
Person who acquires the rights and obligations of another person (for example, a successor or heir).
Clientele
Successors, right-holders and creditors.
Requirements
Be a successor or a creditor to whom the deceased person had debt.
Since April 1, 2006, Revenu Québec has been the only agency responsible for recovering and administering unclaimed property.
