When funds are held because of inability to find the person to whom payable, such receiver may be ordered by the court to make inquiry and due diligence to ascertain such person in order that payment may be made; and for this purpose, and to secure any other relevant information, he shall have power to summon witnesses and take evidence; and he shall report specifically to the court in each annual report, and at any other time when so ordered by the court, the details and results of his efforts.
§ 8.01-586.Inquiry as to unknown owners of funds.
Chapter 22. Receivers, General and Special · Article 1. General Receivers · Last amended 1988 · Last verified July 16, 2026
In one sentenceThis section lets a court direct a general receiver to search for the rightful owner of funds he cannot pay out because that person cannot be located, giving the receiver power to summon witnesses and gather evidence and requiring him to report on the results of his search.
Full Text of § 8.01-586
Plain-English Summary
Sometimes a general receiver holds money that is due to someone the court cannot find. This section addresses that gap by letting the court order the receiver to make inquiry and exercise due diligence to identify the missing person, so the money can finally be paid where it belongs.
To carry out that search, the receiver gets investigative tools he would not otherwise have: the power to summon witnesses and take evidence, and to gather any other information relevant to locating the missing owner.
The receiver cannot search once and move on. He must report specifically to the court, in each annual report and at any other time the court orders, the details and results of his efforts — keeping the search for an unknown owner under continuing judicial oversight rather than letting the funds languish unattended.
Frequently Asked Questions
When does this section apply?
When funds are held because of inability to find the person to whom the money is payable.
What powers does the receiver get to search for the missing owner?
The power to summon witnesses and take evidence, and to secure other relevant information.
How often must the receiver report on his search efforts?
In each annual report, and at any other time the court so orders.
What must the receiver's report on the search include?
The details and results of his efforts to ascertain the missing person.
What is the ultimate goal of the inquiry this section authorizes?
To identify the person entitled to the funds so that payment may be made to them.
Amendment History
Code 1950, § 8-729; 1977, c. 617; 1988, c. 553.
Source & verification. Section text and amendment history are
reproduced verbatim from the Code of Virginia, published by the
Code of Virginia, Virginia Division of Legislative Automated Systems. Last verified July 16, 2026.
· Official source
Also known as: virginia unknown owner receiver fundslocating a missing beneficiary receiver virginiaunclaimed funds held by receiver virginia