An Arizona resident alleges a state law that allows the government to take custody of property that’s “presumed abandoned” violates the US Constitution.
Mary Watts says Arizona’s Unclaimed Property Act permits the state to seize the property without paying its owner just compensation, in violation of the takings clause of the Fifth Amendment, according to her proposed class action complaint filed Tuesday in the US District Court for the District of Arizona. Watts seeks to represent a class of all current owners of unclaimed property—in the form of money—held by the state.
Watts claims that Arizona Department of Revenue Director ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.