N.Y. Abandoned Property Law § 1216: Presumptions

§ 1216. Presumptions. If it shall appear from the records of the

United States that the rightful owner of property described in section

twelve hundred fifteen of this article has not made claim thereto for a

period of seven consecutive years, it shall be presumed for purposes of

escheat proceedings under this article that such rightful owner is, and

during such period has been, unknown or has died without having disposed

thereof and without having left a will, and without having left any

heirs, next-of-kin or distributees or that such property has been

abandoned and that such property has escheated. In any case wherein the

rightful owner of such property is a corporation it shall also be

presumed for purposes of escheat proceedings under this article that the

corporation is dissolved, no longer in existence, and its charter

forfeited and the presumptions set forth in the first sentence of this

section shall be made with respect to the rightful owners or claimants

to the assets of such corporation, including its stockholders and

creditors. The presumptions provided for in this section may be rebutted

by competent evidence to the contrary.