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  • 1.  Expired loan with deceased lender?

    Posted 02-12-2019 03:04 PM
    Hi all,

    I wasn't able to find this topic posted previously, and I'm hoping to get some guidance! We have a loan that recently expired. The original lender passed away during the loan period, and it isn't clear who should have claim to the item. Does it fall on us to consult a will to determine who the item should pass to? Should we confer with an executor? We'd certainly hate to transfer it to the first responding family member only to have another member claim it as theirs... Has anyone dealt with a similar situation? How did you ultimately proceed?

    Thanks!

    ------------------------------
    Jonathan Piper PhD
    Manager of Artifacts and Exhibitions
    Museum of Making Music
    Carlsbad CA
    ------------------------------
    AAM Annual Meeting & MuseumExpo, Baltimore, May 16-19, 2024, click to learn more


  • 2.  RE: Expired loan with deceased lender?

    Posted 02-13-2019 08:08 AM

    Good morning Jonathan,

     

    First, you need to educate yourself about Old Loan/Abandoned Property legislation for California.  Second, if you don't have a current copy, I would purchase a copy of Marie Malaro's A Legal Primer on Managing museum Collections and read the pertinent chapters.

     

    Then, armed with that information, I would contact the family (if you have that information) to find out who the executor of the will is.  If the item is mentioned as a specific bequest in the will, then you will need to return the property to the executor.  (Remember – it's a loan to your institution and the executor is acting on behalf of the deceased lender.)  If the item is not specifically mentioned, then it is part of the residue of the estate and is subject to the terms of the will for the residue of the estate.  If that is the case, you may be able to convince the executor and family to gift it to your institution, if it is a key piece you would like. If you have an attorney for your institution or on your board, I would encourage you to speak with them today about the situation so that they can advise and assist.

     

    Bottom line – the item is an unclaimed loan and you are very restricted in what you can do with it...basically, you can hold it until you return it to the rightful owner.  Please note, I am NOT an attorney nor do I play one on TV, but I have dealt with old loan and abandoned property issues for many years.

     

    Good luck and let me know if I can answer any further questions.

     

    Sincerely,

    VivianLea

     

    VivianLea Solek

    Archivist

    Knights of Columbus Supreme Council Archives


    Knights of Columbus Museum
    1 State Street
    New Haven, CT 06511-6702

    Phone 203 752-4578
    Fax 203 865-0351

     

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  • 3.  RE: Expired loan with deceased lender?

    Posted 02-13-2019 08:34 AM
    Dear Jonathan - Estate laws differ from state to state, but in CT, one would want to go to the court of probate to find the executor and declare the object to him or her.  Vivian

    Vivian F. Zoë, Director
    Slater Memorial Museum
    108 Crescent Street, Norwich CT 06360
    860-425-5560 vox
    860-885-0379 fax

    "Inspiration is for amateurs - the rest of us just show up and get to work," Chuck Close, 2003


    Please note:  The information contained in this e-mail and any attachments hereto is intended only for the personal and confidential use of the designated recipients.  If the reader/recipient of this message is not the intended recipient, you are hereby notified that you have received this e-mail and all attachments hereto in error and that any review, dissemination, distribution or copying of this e-mail or any of its attachments is strictly prohibited.  If you have received this communication in error, please notify the sender immediately by e-mail and destroy the original message received.  Thank You.



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  • 4.  RE: Expired loan with deceased lender?

    Posted 02-13-2019 09:00 AM
    Go to the office of the probate to find the contact information of the executor directly. Don't involve any other family members if you can avoid it. Unless the work of art is specifically mentioned in the will, the executor has the ultimate responsibility of deciding how to manage/liquidate the asset. If you discuss options with them (i.e. donation and/or bargain sale), you may be able to retain the piece permanently while simultaneously helping the estate.

    ------------------------------
    Kaitlyn McElwee
    Fine Art Appraiser
    Charlotte NC
    ------------------------------

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  • 5.  RE: Expired loan with deceased lender?

    Posted 02-13-2019 09:35 AM
    I suggest you contact the Probate Court (possibly required by your state statutes) and the executor of the estate  Rather depends on what your have? Is it valuable or an heirloom that family will squabble over it?  In your request for disposition of the objects (include loans whose contract has Not  expired) ask if the estate wants to donate, but Do Not offer that option if you do not want them for any reason, even for sale. In my opinion, a final disposition needs to be in writing, with All pertinent family members and beneficiaries signatures (and the probate court if involved) that includes a detailed and dated object list, with images. Even if you only deal with a single family member and they say 'donating - keep it', get it in writing for your own files and those who come after you.

    I am not an attorney, this is not all inclusive I am sure, but hope this helps and am corrected if not.

    Candice Brashears

    ------------------------------
    Candice Brashears, Museum Director
    Jonathan Trumbull Jr. House Museum
    Lebanon, CT
    ------------------------------

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  • 6.  RE: Expired loan with deceased lender?

    Posted 02-15-2019 10:42 AM
    VivianLea Solek's response is better and more concise than mine. I'll take heed of keeping all the family members out of the process, as is possible. Makes a lot of good sense.

    ------------------------------
    Candice C. Brashears, Museum Director
    Jonathan Trumbull Jr. House Museum
    Lebanon, CT
    ------------------------------

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  • 7.  RE: Expired loan with deceased lender?

    Posted 02-13-2019 11:11 AM
    If you haven't done so already, I would suggest that you look up the California state statutes on Abandoned Property.  Minnesota recently revised it's statute to conform more to the realities that museums face, such as your situation.  It also helps with 'drive-by donations.

    You might find the following pdf's helpful to get started.

    https://static1.squarespace.com/static/58a5dc6cb3db2b9edd19c676/t/59739e97ebbd1a4c66f39d34/1500749463344/Museum-Property-Disposal-Legislation-Intro-and-Chart.pdf

    https://www.sco.ca.gov/Files-UPD/guide_rptg_holderhandbook.pd




    ------------------------------
    Paul Storch
    Sites Collections and Exhibits Liaison (Manager)
    [Facilities-Historic Properties
    Minnesota Historical Society]
    St. Paul MN
    paul.storch@mnhs.org
    ------------------------------

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  • 8.  RE: Expired loan with deceased lender?

    Posted 02-13-2019 05:19 PM
    The loan is an asset of the estate so locate the executor.  If the estate has been resolved, contact the heirs.

    ------------------------------
    William Korn
    President
    Temple Israel Foundation
    Leadville CO
    ------------------------------

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  • 9.  RE: Expired loan with deceased lender?

    Posted 02-15-2019 03:18 AM
    My aviation museum recently was faced with this exact situation.  We had on loan a number of restored early aircraft engines.  They were placed on loan to us in the late 1980s with an indefinite term.  Luckily, a person came to the museum to make a donation of objects.  His father had made a bulletin  board of items found at a WW1 aircraft manufacturing plant.  I pointed out our display of engines from that era.  This person said he was familiar with it as the engines were his father.  Up until that point we had no information as to the loanee's status.  End result is that he wants to keep the engines at our museum. So we are working on getting an updates loan agreement.

    In addition to an estate, property can be passed to another via a trust.  Generally in a trust, the property of a person or persons who are a party of the trust is automatically passed to the surviving trust members.  Special bequeaths of items can be made, just like in a will.  But the remaining property goes to the surviving trust member or members.

    ------------------------------
    Raymond Meyer
    Collections Department
    Archives-Artifacts
    Aerospace Museum of California
    McClellan, CA 95652
    safety-security@aerospaceca.org
    ------------------------------

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  • 10.  RE: Expired loan with deceased lender?

    Posted 02-15-2019 06:55 AM
    Although in the past, it was once a common practice in the industry, this is a good reason to avoid long-term loans!

    We have had on loan a group of objects from a major museum for 80 years!  We had only minimal documentation.  When I contacted the staff there now to uncover terms, reasons, etc., they wanted to charge us travel expenses and staff time and per-diems, plus hotel! to come to look at them - despite our having sent excellent photographs.  We declined, so the objects are still here... Annual renewal of loan agreements is good practice!

    Vivian F. Zoë, Director
    Slater Memorial Museum
    108 Crescent Street, Norwich CT 06360
    860-425-5560 vox
    860-885-0379 fax

    "Inspiration is for amateurs - the rest of us just show up and get to work," Chuck Close, 2003


    Please note:  The information contained in this e-mail and any attachments hereto is intended only for the personal and confidential use of the designated recipients.  If the reader/recipient of this message is not the intended recipient, you are hereby notified that you have received this e-mail and all attachments hereto in error and that any review, dissemination, distribution or copying of this e-mail or any of its attachments is strictly prohibited.  If you have received this communication in error, please notify the sender immediately by e-mail and destroy the original message received.  Thank You.



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