Administration of Unclaimed Estates in Malaysia: The Peculiarities of Unclaimed Money, Undistributed Fund and Bona Vacantia

Akmal Hidayah Halim*, Nor Azlina Mohd Noor and Azhani Arshad
Additional contact information
Akmal Hidayah Halim*: Ahmad Ibrahim Kulliyyah of Laws, International Islamic University Malaysia, 53100 Gombak, Malaysia
Nor Azlina Mohd Noor: School of Law, Universiti Utara Malaysia, 06010 UUM Sintok Kedah. Malaysia
Azhani Arshad: Faculty of Law, MARA Technology University, Shah Alam, Selangor, Malaysia

The Journal of Social Sciences Research, 2018, 1075-1079 Special Issue: 6

Abstract: Issues relating to the complexities of unclaimed estates have become a national concern and a major recurring problem as the value of such estates is growing annually. However, despite the constant reports on the increasing value of unclaimed estates, it is very unfortunate that the exact types of unclaimed estates remain hitherto uncertain and not specifically identified. Hence, this paper aims to examine the peculiarities of unclaimed estates in the administration of the deceased’s estate in Malaysia. The main focus is to analyses the position of the unclaimed money, the undistributed fund and the case of bona vacantia for the estate of a person dying intestate and leaving no heir to inherit accordingly. The discussion adopts the doctrinal analysis by examining the existing primary and secondary materials including statutory provisions, case law and other legal and non-legal literatures. The paper finds that the existence of various laws that governs different types of unclaimed estates has led to the distinctive methods in the administration and management of such estates. Hence, it is highly important that these types of estates together with legal and procedural mechanisms relating to the administration of such estates are clearly identified so that productive elements of such estates would be activated to the advantage of the rightful beneficiaries.

Keywords: Unclaimed estates; Unclaimed money; Undistributed fund; Bona vacantia; Malaysia (search for similar items in EconPapers)
JEL-codes: G11 G12 G21 (search for similar items in EconPapers)
Date: 2018
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.arpgweb.com/pdf-files/spi6.37.1075.1079.pdf (application/pdf)
https://www.arpgweb.com/journal/7/special_issue/12-2018/6/4 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arp:tjssrr:2018:p:1075-1079

Access Statistics for this article

The Journal of Social Sciences Research is currently edited by Dr. Paola Magnano

More articles in The Journal of Social Sciences Research from Academic Research Publishing Group Rahim Yar Khan 64200, Punjab, Pakistan.
Bibliographic data for series maintained by Managing Editor ().