Category: Local Services

Memphis Estate Liquidation: A Practical, Local Guide to Getting Top Value Without the Stress

What “full-service” really means when you’re clearing a home in Memphis

Estate liquidation is rarely just “selling stuff.” In Memphis, families often juggle tight timelines, sensitive family dynamics, and a house full of items with wildly different markets—furniture, tools, vehicles, collectibles, coins, jewelry, and sometimes regulated categories like firearms. A strong liquidation plan protects your time, your privacy, and your return. This guide breaks down how the process works, where value is commonly lost, and how to choose the right sale method for your situation—whether you’re downsizing in Germantown, settling an estate in Bartlett, or managing a property across town.

Why estate liquidation feels overwhelming (and what helps)

Most households aren’t organized like a retail store—so “just sell it” quickly turns into sorting, researching, pricing, staging, advertising, managing buyers, handling payments, and then cleaning out what remains. A professional, end-to-end approach typically includes:

• Item triage (what sells best in-home vs. online vs. specialty sale)
• Safe, realistic pricing based on current demand
• Staging and merchandising so buyers actually see value
• Marketing that reaches both Memphis buyers and broader online bidders
• Post-sale cleanout planning so the property can move to the next step

Common ways families lose money

Value is often lost through speed, not malice. The most frequent culprits:

• Over-donating before identifying “high-leverage” categories (coins, signed collectibles, quality tools, vintage audio, firearms accessories)
• Selling “bundles” too early (mixing premium items into low-value lots)
• Under-marketing items that attract online bidders (rare, shippable, brand-name, documented provenance)
• Skipping specialty compliance steps (especially firearms) and settling for steep discounts

A clear plan—before any major cleanout—usually produces a noticeably better outcome.

Choosing the right sale format: private in-home sale, online auction, buy-out, or partial sale

The best estate liquidation method depends on timeline, volume, item mix, and privacy needs. Many Memphis estates do best with a hybrid approach (some items sold online, others sold on-site, and specialty items handled separately).
Option
Best for
Potential trade-offs
Private in-home estate sale
Full households, furniture, kitchenware, décor, tools; local foot traffic
Some niche items may underperform without online bidders
Online auctions
Collectibles, coins, jewelry, small antiques, rare or branded items; wider reach
Requires detailed cataloging; pickup/shipping coordination
Buy-out
Fast timelines, out-of-town executors, properties that must clear quickly
Lower top-end return than a well-marketed sale (you’re trading time for speed)
Partial estate sale
Downsizing, retirement moves, or “keep the house / sell the contents” situations
Needs careful tracking so each client’s items are accounted for
Tip: If your estate includes specialty categories (vehicles, precious metals, firearms), factor that into the format decision early—those items often require separate workflows to maximize value and keep everything compliant.

Step-by-step: a smart estate liquidation plan (that protects value)

1) Pause donations and “trash runs” for 48 hours

Quick cleanouts feel productive, but they’re where valuable, shippable items disappear. Start with a simple rule: nothing leaves the house until someone has scanned the obvious “high-value zones”—jewelry boxes, desk drawers, tool chests, safes, closets, and the garage.

2) Sort by market, not by room

Kitchens and living rooms are convenient, but value is driven by buyer behavior. Group items into: (a) strong in-home sellers, (b) better online, (c) specialty liquidation, and (d) donate/dispose. This keeps premium items from being priced like “general household.”

3) Document specialty items correctly (vehicles, metals, firearms)

Specialty items can add meaningful proceeds—but only if they’re handled safely and with proper documentation. For precious metals in Tennessee, certain coins/currency/bullion are exempt from sales and use tax when sold based on intrinsic value and meeting state criteria. (revenue.support.tn.gov)

For firearms transfers, Tennessee does not require a bill of sale for private transfers, but documentation is commonly recommended, and dealer transfers involve background checks (TICS) through the Tennessee Bureau of Investigation. (legalclarity.org)

4) Price for conversion, then create “momentum”

The goal isn’t to “win” on every item—it’s to maximize total return while clearing the estate on schedule. Strong staging, clean groupings, and clear pricing reduce haggling and keep buyers moving. Many estates perform best when the first sale day is priced firmly and subsequent days include structured reductions.

5) Plan the “after” before the first buyer arrives

A cleanout plan prevents the dreaded second round of decision fatigue. Decide ahead of time: what gets donated, what gets hauled, what gets stored, and what gets consigned or auctioned later. This is where a full-service liquidation team saves families the most time.

6) Keep proceeds and paperwork easy to track

Executors and families benefit from clean reporting: what sold, for how much, and what costs were associated with the sale. If you’re settling an estate, organized records also make it easier to answer beneficiary questions calmly and confidently.

The Memphis angle: what local families should factor in

Memphis-area estates often have a mix of older furniture, tools, outdoor equipment, and collections built over decades—exactly the kind of inventory that can do well if it’s merchandised thoughtfully. A few local considerations that help:

• Neighborhood logistics: Parking and access matter. A plan for flow reduces bottlenecks and protects the home.
• Security and discretion: Estates can draw attention. Controlled entry and professional staffing help.
• Suburb timelines: Families in Germantown and Bartlett often coordinate moves, repairs, and listing schedules—your liquidation plan should match those deadlines.
• Out-of-town executors: If you can’t be present, you’ll want a team that can handle decisions, documentation, and communication consistently.
If you’re planning an estate sale or online auction in Memphis and want to understand options (private sales, online auctions, buy-outs, partial sales, and specialty categories), see how the process is typically structured here:

Want a clear plan for your Memphis estate liquidation?

Memphis Estate Sales helps families choose the right sale format, identify high-value categories, and manage the full process—from staging and advertising to specialty liquidation and cleanouts—so you can move forward with fewer surprises.
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Prefer discreet guidance? Ask about consulting, buy-outs, or online auction options.

FAQ: Memphis estate liquidation and estate sales

How do I know whether an online auction or an in-home estate sale is better?

If the estate has lots of furniture and household goods, an in-home sale can move volume efficiently. If you have collectibles, coins, jewelry, rare items, or smaller high-demand pieces, online auctions often reach more qualified bidders and can improve returns—especially for items that ship well.

What should I do first if I’m the executor and I live out of town?

Start with an inventory-minded walkthrough (even a video call can help), then choose a sale plan that includes secure access, consistent communication, and clear reporting. Many out-of-town executors prefer a hybrid plan (online auctions for select items + in-home sale for the rest) or a buy-out if timing is tight.

Can firearms be included in an estate liquidation in Tennessee?

They can, but the process should be handled carefully. Tennessee private transfers may not require formal paperwork, but documentation is commonly recommended, and transfers through a licensed dealer involve required forms and a background check process (TICS). (legalclarity.org)

Are gold and silver taxed when sold in Tennessee?

Tennessee has a sales and use tax exemption for qualifying coins, currency, and bullion sold primarily based on intrinsic/collectible value and meeting specific criteria in state guidance. (revenue.support.tn.gov)

What happens to items that don’t sell?

Most families choose a planned path: donation, hauling/disposal, or moving a small set of items to a different selling channel. The key is deciding this upfront so you’re not making emotional decisions at the end of a long sale weekend.

Glossary (helpful terms you may hear during liquidation)

Buy-out
A fast option where the liquidation company purchases the estate contents (or a large portion) for a single price, usually in exchange for speed and simplicity.
Estate liquidation
The organized process of converting personal property into cash through sales, auctions, and specialty channels—often including staging, advertising, and cleanout coordination.
Hybrid sale strategy
A plan that uses more than one selling method—commonly an in-home sale for household goods plus online auctions for collectibles and high-demand items.
TICS (Tennessee Instant Check System)
A background check system used in Tennessee for firearms transfers through licensed dealers, administered by the Tennessee Bureau of Investigation. (legalclarity.org)
Bullion
Precious metal (often gold or silver) valued primarily by weight and purity, rather than artistic or decorative design; Tennessee provides tax guidance and an exemption for qualifying bullion/coins/currency. (revenue.support.tn.gov)

Estate Liquidation in Collierville, TN: A Practical Checklist for Maximizing Value (Without the Stress)

A clear plan for families, downsizers, and executors managing a full household

When you’re sorting an estate in Collierville—whether it’s a parent’s home near Poplar Avenue, a downsizing move to a smaller place, or a probate timeline that doesn’t wait—“just sell everything” rarely works. The best results usually come from a structured estate liquidation plan: deciding what sells best in-home, what belongs online, what should be specialty liquidated (vehicles, collectibles, precious metals, firearms), and what to donate or discard after the sale.

This guide lays out a step-by-step checklist you can follow before you schedule an estate sale or auction, so you protect sentimental items, avoid preventable value loss, and keep the process discreet and manageable.

Local SEO focus: If you’re searching for estate liquidation Memphis services while located in Collierville, Germantown, or Bartlett, you’re in a common situation: you need a Memphis-area team that understands local buyer demand and can market to both local shoppers and online bidders.

What “estate liquidation” actually includes (and what it should include)

Estate liquidation is the organized sale of personal property—furniture, décor, tools, jewelry, collections, vehicles, and more—so the estate can be settled efficiently and fairly. A professional liquidation plan usually covers:

• Sorting and identifying items with “specialty” value (coins, gold/silver, firearms, collectibles, classic cars)
• Choosing the right sales channel (private in-home sale vs. online auction vs. buy-out)
• Staging, pricing, photographing, advertising, and managing buyers
• Post-sale cleanout planning (donation, trash, haulers, final sweep)
The biggest difference between a smooth liquidation and a stressful one is whether you’re making decisions early—before items get moved, “helpfully” given away, or accidentally thrown out.

A value-first checklist: what to do before you sell anything

Use this checklist to avoid the most common (and costly) pitfalls families run into when clearing a home.

Step 1: Secure documents and high-risk valuables

Before open-house showings or even extended family visits, set aside:

• Personal IDs, passports, military papers, titles, insurance policies
• Checkbooks, credit cards, tax records
• Firearms and ammunition (store safely and discreetly)
• Jewelry, coins, precious metals (even if you think they’re costume)

Step 2: Don’t “pre-donate” until you’ve screened for collectible categories

In Memphis-area estates, value is often hidden in ordinary-looking places: garages, china cabinets, desk drawers, closets, and tool benches. Before donation runs, flag these categories for a quick professional review:

• Vintage tools, fishing/hunting gear, and yard equipment
• Mid-century furniture, signed art, and regional collectibles
• Coins, bullion, and sterling (often mixed with everyday flatware)
• Military items, knives, and sporting goods

Step 3: Pick the best sales channel (in-home, online auction, or buy-out)

A “one-size-fits-all” sale can leave money on the table. Many households benefit from a blended approach—especially when there are specialty assets or a tight timeline.
Option Best for Watch-outs
Private in-home estate sale Full households with strong local shopping demand; furniture, décor, everyday items Requires staging, pricing discipline, and controlled entry for security
Online auctions Collectibles, smalls, niche items; reaching bidders beyond Collierville Photography, accurate descriptions, and pickup logistics matter
Buy-out Tight deadlines, out-of-town heirs, or homes needing quick cleanout Convenience-focused; may trade some upside for speed
If you’re unsure which route fits your situation, Memphis Estate Sales offers guidance and planning support—especially useful when the estate includes vehicles, precious metals, or firearms that shouldn’t be handled casually.

Step 4: Understand taxes and compliance (the simple version)

Tennessee has rules that can affect whether sales tax applies to “casual and isolated” sales by people not in the business of selling—plus special treatment for certain registered items like motor vehicles. For example, Tennessee’s rules describe a “casual and isolated sales” exemption and note that it does not apply to certain items like aircraft, vessels, and motor vehicles required to be registered. (law.cornell.edu)

Also, if you’re selling through online platforms, marketplace collection rules can come into play depending on the structure of the sale and where the buyers are located. (tn.gov)

Practical takeaway: Ask your estate liquidation provider how they handle tax collection and reporting for each channel (in-home vs. online), and how registered assets (vehicles) are handled. For estates with probate or trust administration, it’s also smart to confirm requirements with your attorney or tax professional.

Quick “Did you know?” facts that help families avoid mistakes

Did you know: Some categories (especially coins, bullion, jewelry, and small collectibles) often perform better when marketed to a broader audience via online auction formats—because demand isn’t limited to who shows up in the neighborhood that weekend.
Did you know: Under federal rules, out-of-state transfers of firearms between non-licensees are restricted, with specific exceptions for inheritance by bequest or intestate succession. That’s one reason estates should use a compliant, documented process for firearm liquidation and transfers. (regulations.atf.gov)
Did you know: Even when state law doesn’t require paperwork for a private firearm transfer, keeping a record (like a bill of sale with identifying details) is often recommended for accountability and clarity. (legalclarity.org)

How professional estate liquidation maximizes returns (what to expect)

If you hire a full-service team, your value typically comes from process and reach—not just “having a sale.” Strong liquidation companies focus on:

• Staging that sells: clean sightlines, grouped categories, and good lighting so shoppers buy more per visit
• Accurate pricing: grounded in current demand, not what items “should be worth”
• Advertising that targets real buyers: local shoppers for furniture + online bidders for specialty items
• Security and discretion: controlled access and thoughtful handling of sensitive items
• Post-sale cleanout planning: donation coordination and final clean sweep so the home can move to the next step

Collierville angle: what sells well locally (and what usually needs online reach)

Collierville estates often include a mix: well-kept furniture, decorative home goods, garage and garden equipment, and sometimes multi-generational collections. Here’s a practical way to think about local demand:

• Often strong locally: quality furniture, patio sets, tools, kitchenware, holiday décor, lamps, rugs
• Often stronger online: rare collectibles, certain coins, niche vintage categories, specialty pieces with national buyer bases
• Needs specialty handling: firearms, precious metals, and vehicles—where compliance, documentation, and accurate valuation matter
If the estate is in a neighborhood with HOA parking limits or tight streets, a professional team can also plan traffic flow and pickup windows to reduce disruption.

Explore services and FAQs (helpful if you’re comparing options)

If you’re weighing a private in-home sale versus online auctions—or you’re dealing with a partial estate, buy-out timeline, or specialty liquidation—these pages can help you understand what’s available:

• Estate Liquidation Services in Memphis

Overview of private estate sales, online auctions, and specialty liquidation categories.
• Estate Sales, Online Memphis Auctions & FAQs

Quick answers on process, timing, and what to expect before and after a sale.
• About Memphis Estate Sales

Learn about the team and the integrity-first approach behind their work.

Ready for a discreet, professional estate liquidation plan?

If you’re managing an estate in Collierville (or nearby Germantown, Bartlett, and the greater Memphis area), a short consultation can clarify the best sales channel, timeline, and how to handle specialty items safely.
Schedule a Consultation

Prefer a quick overview first? Use the FAQs above to compare options.

FAQ: Estate liquidation in Collierville & the Memphis area

How long does an estate liquidation usually take?

Timing depends on home size, item density, specialty categories, and whether you use a blended approach (in-home + online). Many families start with an initial walkthrough, then scheduling and prep follow based on your goals and deadlines.

Should we clean the house out before calling an estate sale company?

Usually, no. Removing items too early is one of the top reasons value gets lost. Instead, secure documents and obvious valuables, then schedule a professional evaluation so you know what should be sold, donated, or discarded.

Are estate sales in Tennessee subject to sales tax?

Tennessee rules describe circumstances where “casual and isolated” sales by people not in the business of selling may not be subject to sales tax, and they also outline exceptions (including certain registered items like motor vehicles). (law.cornell.edu)

Because each estate and sales channel can be different (in-home vs. online platform), it’s best to ask your liquidation provider how tax collection is handled and verify any probate- or trust-specific concerns with your attorney or tax professional.

What’s the safest way to handle firearms during estate liquidation?

Start by storing firearms safely and discreetly while you confirm who has legal authority to transfer them (executor/administrator, trustee, or rightful heir). Federal rules restrict transfers to out-of-state residents between non-licensees, with specific inheritance-related exceptions. (regulations.atf.gov)

Tennessee does not require a bill of sale for private transfers, but documentation is commonly used to protect both parties and clarify the transfer details. (legalclarity.org)

What items typically do best in online auctions?

Smaller collectibles, coins, certain vintage categories, and items with buyers outside the Memphis area often perform well online—especially when listings have strong photos and clear descriptions. Online auctions can also help when local foot traffic alone isn’t enough to find the right buyer.

Glossary (quick definitions)

Estate liquidation: The organized process of selling personal property from an estate or downsizing household to convert items into proceeds.
Buy-out: A fast option where a liquidation company purchases the remaining contents (or an entire estate) in a single transaction, often used when timelines are tight.
Online auction: A timed bidding sale conducted through an online platform, typically used to expand reach to regional and national buyers.
Casual and isolated sale (TN): A concept in Tennessee tax rules describing limited, infrequent sales by people not in the business of selling (with important exceptions). (law.cornell.edu)
Bequest / intestate succession: Legal terms for inheritance through a will (bequest) or when someone dies without a will (intestate succession). These terms can matter for lawful firearm inheritance rules across state lines. (regulations.atf.gov)

Estate Liquidation in Germantown, TN: A Practical Checklist for Selling a Home’s Contents (Without Missing Value)

A clear plan for families, downsizers, and executors who need the house emptied—carefully and efficiently

When you’re preparing a home in Germantown for a move, a sale, or an estate settlement, it’s easy to feel pulled in ten directions: family keepsakes, time pressure, real estate timelines, and the big question—“What is this stuff actually worth?” A thoughtful liquidation plan helps you avoid common mistakes (like donating valuable items too quickly, or wasting days sorting what a professional team can handle faster).
Below is a practical, Memphis-area friendly checklist for estate liquidation in Germantown, with special notes for high-attention categories (vehicles, collectibles, precious metals, and firearms) and for choosing the right sale format (private in-home sale, online auction, or buy-out).

1) Start with the “Three-Pile” Inventory (Keep / Sell / Donate)

Before you move a single piece of furniture, make a quick pass through the home with one goal: separate decisions from logistics.

The three piles:
Keep: sentimental items, documents, and “non-negotiables” that will not be sold.
Sell: household goods, furniture, collectibles, tools, jewelry, etc.
Donate/Dispose: items that are low-value, damaged, or not worth the time to market.
Tip: Put “Keep” items in one clearly marked room (or closets with painter’s tape labels). This prevents accidental sale-day confusion and protects family pieces.

2) Identify “High-Scrutiny” Items Early (So You Don’t Underprice or Mis-handle)

Some categories deserve early attention because they involve specialized valuation, compliance, or a different buyer market:

Precious metals (gold, silver, coins)
Separate bullion/coins from costume jewelry. Keep any receipts, appraisals, or grading certificates nearby. Also note that Tennessee provides a sales and use tax exemption for qualifying sales of coins, currency, and bullion (effective May 27, 2022). This matters when planning the best liquidation path and documentation for buyers. (revenue.support.tn.gov)
Firearms
Do not place firearms out with general household items. Secure them and involve a qualified specialist who can help keep the process compliant and discreet. (Regulatory emphasis and enforcement priorities can change; careful handling and record-keeping is always prudent.) (washingtonpost.com)
Vehicles, classic cars, and motorcycles
Locate titles, lien releases, maintenance records, and spare keys. These documents can materially affect sale price and time-to-sale.
Collectibles & niche categories
Examples include vintage electronics, signed memorabilia, specialty tools, militaria, designer handbags, and high-end mid-century furniture. These often perform best with targeted marketing (sometimes online auctions).

3) Choose the Best Liquidation Format (In-Home Sale vs. Online Auction vs. Buy-Out)

The “best” format is the one that matches your timeline, the home’s contents, and how much hands-on involvement you want.
Format Best for What to expect
Private in-home estate sale Full households, furniture-heavy estates, local buyer traffic Staging, pricing, advertising, sale days, and post-sale cleanout can be handled end-to-end by a full-service team.
Online estate auctions Collectibles, specialty items, smaller-but-high-value estates Wider buyer reach beyond Germantown/Memphis, often better for niche demand and competitive bidding.
Buy-out Fast timelines, “as-is” situations, out-of-town heirs Speed and simplicity: a single transaction can replace weeks of sorting and selling.
If you’re unsure, a consult is often the fastest way to match items to the right channel. For a detailed view of sale formats and common questions, see Estate sales, online Memphis auctions, and FAQs.

Quick “Did You Know?” Facts (Helpful During Estate Settlement)

Unclaimed property is common. Tennessee’s Treasury describes unclaimed property as intangible or tangible assets with no activity/contact for at least a year or longer, at which point it can be considered unclaimed/abandoned and turned over to the state for safeguarding. (treasury.tn.gov)
Tennessee has a specific law framework for unclaimed property. The Tennessee Unclaimed Property Act is codified at T.C.A. §§ 66-29-101–155, and reporting rules commonly reference annual deadlines for certain holders. (mtas.tennessee.edu)
Germantown publishes residential ordinance guides. If you’re considering a “garage/yard sale” approach, check local ordinance guidance first (rules can differ from an estate sale managed as a private in-home event). (germantown-tn.gov)

4) Step-by-Step: A Germantown Estate Liquidation Checklist

Use this as a working plan—especially if you’re coordinating siblings, travel, or a realtor timeline.

Step 1: Secure documents and valuables (first 1–2 hours)

Gather wills/trust papers you can access, keys, titles, passports, coin/jewelry boxes, and any safe contents. If there are firearms, secure them separately and do not leave them out during early sorting.

Step 2: Photograph “as-found” rooms (before heavy sorting)

Quick photos help settle “where did that go?” disagreements, support inventories, and preserve context for specialty items.

Step 3: Decide the sale channel (after a quick walk-through)

A full-service team can recommend whether a private estate sale, online auction, or buy-out is the best fit. If you want an overview of service options, see Estate liquidation, online auctions, and private estate sales services.

Step 4: Don’t “pre-donate” until pricing guidance is in place

The most common regret families share: donating a “nice-looking” box of items that included a valuable collectible, vintage jewelry, or a hard-to-find tool set. If you need the home cleared quickly, choose a buy-out or a plan with post-sale cleanout rather than rushing early donations.

Step 5: Plan for the endgame (cleanout + next steps)

Make sure you understand what happens after the sale: leftover items, trash removal, donation drop-offs, and “broom clean” expectations. This matters when the next step is listing the home or turning it over to a landlord or new owner.

5) Local Angle: Germantown, Bartlett, and the Memphis Suburbs

In Germantown, timing often revolves around real estate and neighborhood expectations—clean, orderly properties and minimal disruption. If you’re considering any public-facing sale activity (yard/garage style), it’s smart to review city guidance on residential rules so you don’t accidentally create compliance issues while you’re already juggling a move or estate settlement. The City of Germantown provides a residential ordinance guide that includes a “garage/yard or private sales” info sheet. (germantown-tn.gov)

Practical takeaway: A professionally managed private in-home estate sale can reduce guesswork because the process is structured, advertised to the right audience, and managed with on-site control.

Ready for a clear liquidation plan?

Memphis Estate Sales helps Germantown-area families and executors choose the right approach—private estate sales, online auctions, specialty liquidation, and cleanout planning—so the home can move forward without chaos.
Schedule a Consultation

Prefer to research first? See service options here: Estate liquidation services.

FAQ: Estate Liquidation in Germantown, TN

How long does an estate liquidation typically take?
Timelines vary by volume and sale method. A buy-out can be fast, while an in-home sale or online auction usually requires setup, cataloging/pricing, marketing, sale dates, then cleanout. A walk-through is the quickest way to get a realistic schedule.
Should we throw away “old paperwork” before the sale?
Avoid tossing paperwork until you’ve checked for titles, appraisals, military records, stock certificates, or banking/insurance information. If you’re handling an estate, also consider checking Tennessee’s unclaimed property resources for the decedent’s name. (treasury.tn.gov)
Is sales tax charged on gold and silver bullion in Tennessee?
Tennessee provides a sales and use tax exemption for qualifying sales of coins, currency, and bullion under its guidance (SUT-121), effective May 27, 2022. (revenue.support.tn.gov)
What’s the safest way to handle firearms during liquidation?
Secure firearms immediately and keep them separate from general sale items. Use a specialist who prioritizes safe storage, careful inventory, and a process designed to stay compliant and discreet. (Firearms rules and enforcement focus can shift; professional handling reduces risk.) (washingtonpost.com)
Do I need to research Germantown rules before holding a sale at the house?
If you’re thinking “yard sale” or similar, yes—review local guidance first. Germantown provides a residential ordinance guide with a “garage/yard or private sales” sheet to help residents understand restrictions. (germantown-tn.gov)

Glossary (Quick Definitions)

Buy-out
A single-sale option where a liquidation company purchases the estate contents (or a defined portion) for a faster, more predictable timeline.
Bullion
Precious metals (like gold or silver) valued primarily by weight and purity rather than by a “collectible” premium.
Consignment-style estate sale (in-home sale)
A managed sale held at the property where items are staged, priced, advertised, and sold to the public (or a private list), typically followed by settlement and cleanout steps.
Unclaimed property
Assets with no activity or contact for a period of time that may be turned over to the state for safeguarding until claimed by the rightful owner or heirs. (treasury.tn.gov)