1. (1) A person who has knowledge that a decedent died wholly intestate, that the decedent owned property subject to probate in Oregon and that the decedent died without a known heir shall give notice of the death within 48 hours after acquiring that knowledge to the State Treasurer.

2. (2) Except as provided by ORS 708A.430 and 723.466, a person may not dispose of or diminish any assets of the estate of a decedent who has died wholly intestate, who owned property subject to probate in Oregon and who died without a known heir unless the person has prior written approval of the State Treasurer. The prohibition of this subsection:

   1. (a) Applies to a guardian or conservator for the decedent; and
   2. (b) Does not apply to a personal representative appointed under ORS 113.085 (4) or to an affiant authorized under ORS 114.520 to file a simple estate affidavit under ORS 114.515.
3. (3) For purposes of this section, a known heir is an heir who has been identified and found.

[2003 c.395 §8; 2009 c.541 §3; 2017 c.169 §23; 2019 c.165 §23; 2019 c.678 §37; 2023 c.17 §8]