The Pennsylvania v. New York case was a significant legal dispute that was heard by the US Supreme Court in 1972. The case involved a dispute between the states of Pennsylvania and New York over the authority to escheat or take custody of unclaimed funds that had been paid to the Western Union Telegraph Company for the purchase of money orders. The Court ultimately ruled in favor of Pennsylvania, holding that the state had the authority to escheat the unclaimed funds.
The case was significant because it established a precedent for determining the proper state in which unclaimed property should be escheated. In the past, there had been confusion and disagreement among states over which state had the right to escheat unclaimed property, leading to conflicts and legal disputes. The Pennsylvania v. New York case provided a clear framework for resolving such disputes and established that the state of the last known address of the owner of the unclaimed property had the right to escheat it. This ruling has had a lasting impact on the way unclaimed property is handled and has helped to reduce conflicts and legal disputes among states.