SB 820 - This act modifies provisions relating to the titling of abandoned property. This act allows a salvage pool taking possession of a vehicle from an insurer that did not purchase the vehicle through the claims adjustment process, or a used motor vehicle dealer taking possession of a vehicle from a 501(c)(3) tax-exempt organization without negotiable title, to obtain a salvage certificate of title or junking certificate in its name if a vehicle remains unclaimed on the salvage pool's or used motor vehicle dealer's premises for more than 30 days. The salvage pool or used motor vehicle dealer shall, 30 days prior to applying for title, notify any owners or recorded lienholders of the vehicle of the salvage pool or dealer's intent to apply for title. The application for title shall be on a form provided by the Department of Revenue, signed under penalty of purjury, and accompanied by a statement explaining how the salvage pool or dealer came to possess the property, a vehicle description as specified in the act, the current location of the property, a title application fee as required by law, a copy of the 30-day notice and certified mail receipts, and if the vehicle is not currently titled in the state, a law enforcement inspection report. Upon receipt of the application and required documents, the Director of Revenue shall verify the names and addresses of any owners and lienholders. If the Director identifies any additional owner or lienholder who has not been notified, the salvage pool or dealer shall notify the owners or lienholders in accordance with the act. Thereafter, if no valid lienholders have notified the Department of the existence of a lien, the Department shall issue a salvage title or junking certificate in the name of the salvage pool or dealer. This act also enacts provisions allowing insurers that purchase vessels or watercraft through the claims adjustment process to apply for a certificate of title in the same manner that insurers that purchase vehicles currently titled in the state through the claims adjustment process apply for a salvage title or junking certificate. An insurer purchasing a vessel or watercraft through the claims adjustment process for which the insurer is unable to obtain a negotiable title may make application to the Department of Revenue for a certificate of title. Application shall be made on a form provided by the Department, signed under penalty of purjury, and shall be accompanied by a declaration that the insurer has made at least 2 written attempts to obtain evidence of title, proof of claims payment from the insurer, evidence that letters were sent to the owner, a statement explaining how the insurer came to possess the property, a description of the vessel or watercraft as specified in the act, the current location of the property, and a title application fee as required by law. The insurer shall, 30 days prior to applying for title, notify any owners or lienholders of record for the vessel or watercraft that the insurer intends to apply for title as provided in the act. Upon receipt of the application and required documents, the Director of Revenue shall verify the names and addresses of any owners and lienholders. If the Director identifies any additional owner or lienholder who has not been notified, the insurer shall notify the owners or lienholders in accordance with the act. Thereafter, if no valid lienholders have notified the Department of the existence of a lien, the Department shall issue a certificate of title in the name of the insurer. ERIC VANDER WEERD