Escheatment

Abandonment of Property - Escheatment is the legal process by which unclaimed or abandoned property reverts to the state. This occurs when the rightful owner of the property cannot be located or has failed to claim ownership within a specified period, resulting in the transfer of the property to government custody.

Class Information

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Identification

Label (rdfs)
Abandonment of Property
Preferred Label
Escheatment
Alternative Labels
Bona Vacantia, Property Forfeiture, Reversion to the State, Unclaimed Property Transfer
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Definition and Examples

Definition
Escheatment is the legal process by which unclaimed or abandoned property reverts to the state. This occurs when the rightful owner of the property cannot be located or has failed to claim ownership within a specified period, resulting in the transfer of the property to government custody.
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Additional Information

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Deprecated
False

Metadata

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