Escheat

Dictionary Says

Definition of 'Escheat'

When property and/or an estate is transferred to the government because a person has died without a will or an heir to his or her estate.
Investopedia Says

Investopedia explains 'Escheat'

Transferred property can be claimed back by relatives if they have a worthwhile case.

Related Definitions

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    All of the valuable things an individual owns, such as real estate, art collections, collectibles, antiques, jewelry, investments and life insurance.
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    A person who inherits some or all of the estate of a recently deceased person. The legal successor is usually selected because he or she is related to the deceased by a direct bloodline ...
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  • Will

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    • Inheritance

      All or part of a person's estate/assets that is given to an heir once the person is deceased. An inheritance is typically a cash endowment given to younger heirs of the deceased, however ...
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    • Beneficiary

      A person or entity named in a will or a financial contract as the inheritor of property when the property owner dies.
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      The collection of preparation tasks that serve to manage an individual's asset base in the event of their incapacitation or death, including the bequest of assets to heirs and the ...
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    • Intestate

      The act of dying without a legal will. Determining the distribution of the deceased's assets then becomes the responsibility of a probate court.
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