C.F.R. » Title 31 » CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE › PART 315—REGULATIONS GOVERNING U.S. SAVINGS BONDS, SERIES A, B, C, D, E, F, G, H, J, AND K, AND U.S. SAVINGS NOTES › Subpart E—Limitations on Judicial Proceedings—No Stoppage or Caveats Permitted

31 C.F.R. § 315.20

General

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The following general rules apply to the recognition of a judicial determination on adverse claims affecting savings bonds:

(a) The Department of the Treasury will not recognize a judicial determination that gives effect to an attempted voluntary transfer inter vivos of a bond, or a judicial determination that impairs the rights of survivorship conferred by these regulations upon a coowner or beneficiary. All provisions of this subpart are subject to these restrictions.

(b) The Department of the Treasury will recognize a claim against an owner of a savings bond and conflicting claims of ownership of, or interest in, a bond between coowners or between the registered owner and the beneficiary, if established by valid, judicial proceedings specifically listed in this subpart. Escheat proceedings will not be recognized under this subpart. Section 315.23 specifies evidence required to establish the validity of judicial proceedings. Treasury may require any other evidence to establish the validity of judicial proceedings, such as evidence that the proceeding provided due process, complied with this part, and complied with relevant state law.

(c) The Department of the Treasury and the agencies that issue, reissue, or redeem savings bonds will not accept a notice of an adverse claim or notice of pending judicial proceedings, nor undertake to protect the interests of a litigant not in possession of a savings bond.

[45 FR 64091, Sept. 26, 1980, as amended at 80 FR 80264, Dec. 24, 2015]
Notes of Decisions
Cited in 23 cases, 1959–2019 · leading case: Laturner v. United States, 133 Fed. Cl. 47 (Fed. Cl. 2017).
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Laturner v. United States, 133 Fed. Cl. 47 (Fed. Cl. 2017). · cites it 20× “101963) (citing 31 C.F.R. §§ 315.20 (b) and 315.23). Further, Treasury advised that “[a] State may satisfy this ownership requirement ‘through escheat, a procedure with ancient origins whereby a sovereign may acquire title to abandoned property if after a number of years no…”
Estes v. U.S. Dep't of the Treasury, 219 F. Supp. 3d 17 (D.D.C. 2016). · cites it 10× “” 31 C.F.R. § 315.20 . For example, Treasury has “recognize[d] a claim against an owner of a savings bond .”
Laturner v. United States, 933 F.3d 1354 (Fed. Cir. 2019). · cites it 7× “, 31 C.F.R. § 315.20 (b) ) requires Treasury to recognize claims of ownership based on title-based escheatment statutes.”
Lea v. United States, 132 Fed. Cl. 705 (Fed. Cl. 2017). · cites it 19× “Savings Bonds; Preemption; Intergovernmental Immunity; Due Process Clause of the Fourteenth Amendment; Breach of Contract; 31 C.F.R. § 315.20 (b). OPINION AND ORDER KAPLAN, Judge.”
Estes v. United States, 123 Fed. Cl. 74 (Fed. Cl. 2015). · cites it 12× “Savings Bonds; 31 C.F.R. § 315.20 ; “Valid, Judicial Proceedings”; Title-Based Es-cheat; Breach of Contract; Third-Party Beneficiary; Fifth Amendment Taking OPINION AND ORDER KAPLAN, Judge.”
Treasurer of New Jersey v. United States Dep't of the Treasury, 684 F.3d 382 (3rd Cir. 2012). · cites it 2× “31 C.F.R. §§ 315.20 (b), 353.20(b). 4 As will be seen below, it is highly significant that the regulations do not impose any time limits for bond owners to redeem the savings bonds, at least with respect to the bonds that are the subject matter of this case.”
Ramsey v. Ramsey, 535 P.2d 53 (Idaho 1975). · cites it 2× “61 , and that `[n]o judicial determination will be recognized which would * * * defeat or impair the rights of survivorship conferred by these regulations,' 31 CFR § 315.20 ." 82 S.Ct. 1092 -93. The bond in controversy was purchased with community funds and issued to "Mr.”
Free v. Bland, 369 U.S. 663 (1962). “defeat or impair the rights of survivorship conferred by these regulations,” 31 CFR § 315.20 . 6 The Treasury has consistently main *668 tained that the purpose of these regulations is to establish the right of survivorship regardless of local state law, 7 and a majority of the…”
DeSantis v. Prothero, 916 A.2d 671 (Pa. Super. Ct. 2007). · cites it 2× “¶ 16 In its opinion, the Supreme Court noted that under 31 C.F.R. § 315.20 (a), “[n]o judicial determination will be recognized which would give effect to an attempted voluntary transfer inter vivos of a bond” and that Section 315.”
Massachusetts Med. Soc'y v. Michael S. Dukakis, 815 F.2d 790 (1st Cir. 1987). “defeat or impair the rights of survivorship conferred by these regulations’ ” (quoting 31 C.F.R. § 315.20 )); Franklin National Bank v.”
Horstman Est., 159 A.2d 514 (Pa. 1960). · cites it 2× “[11] 31 C.F.R. § 315.20 (b). [12] 31 C.F.R. § 315.”
Morrison v. ALICANDRO, 472 F. Supp. 2d 2 (D. Mass. 2007). “…her status remains unaltered. 27 . See 64 Am Jur.2d Enforcement of Equitable Obligations § 247. 28 . Id. 29 . See 31 C.F.R. 315.20(a) (2006).”
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— 31 C.F.R. § 315.20(a) — 1 case
Morrison v. ALICANDRO, 472 F. Supp. 2d 2 (D. Mass. 2007). “…her status remains unaltered. 27 . See 64 Am Jur.2d Enforcement of Equitable Obligations § 247. 28 . Id. 29 . See 31 C.F.R. 315.20(a) (2006).”
— 31 C.F.R. § 315.20(b) — 2 cases
Laturner v. United States (Fed. Cl. 2017).
Lea v. United States (Fed. Cl. 2017).
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