noun the reversion of property to the state in the absence of legal heirs or claimants
verb to revert to the state in the absence of legal heirs or claimants
Escheat may occur when a property owner dies without a will and no heirs can be identified, leading to the property reverting to the state.
Escheat refers to the process by which the state takes ownership of property when the rightful owner dies without a will or any known heirs.
Escheat can also refer to unclaimed assets or funds that are turned over to the state after a certain period of inactivity or abandonment.
Escheat is a legal concept that allows the government to claim ownership of property in certain circumstances, such as when no heirs can be found.
Escheat is relevant in inheritance law as it determines what happens to assets or property when there are no rightful heirs or beneficiaries.
In the context of writing, 'escheat' may be used to describe the process of a character inheriting property from a deceased relative who has no other heirs.
Psychologists may encounter 'escheat' when working with clients who are dealing with issues related to inheritance, wills, or property rights.
Lawyers may come across 'escheat' when dealing with cases involving unclaimed property or assets that revert to the state due to lack of heirs.
Real estate agents may need to be familiar with 'escheat' when dealing with properties that have been abandoned or left without a clear owner, as it can impact the sale or transfer of such properties.