Escheat

escheat
the reversion of property to the state in the event that the owner dies without leaving a will and has no legal heirs.
Example: Abel dies without a will. No heirs are found. His property escheats to the state.

ESCHEAT PERIOD - The period of elapsed time required by applicable state law for property to be presume...
ESCHEATMENT - The process of turning over unclaimed or abandoned property to a state authority. Escheat...

Escheat - the process whereby a credit union is required to turn over unclaimed members' account balances to the state for safe keeping.

Escheatment: A term commonly used to describe the submission of abandoned property, including funds, to the state. State law determines when the bondholder has abandoned funds.

Escheat
Abandoned property (e.g., bank account balances) that is turned over to the state. This will also occur when a person dies without a will. If the owner or heirs later appear, the property can be claimed from the state.

Escheat:
Reversion of real or personal property to the State when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time.
Escrow: ...

Escheat Reversion of monies or securities to the state in which the securityholder was last known to reside, when no claim by the securityholder has been made after a certain period of time fixed by state law.

Escheatment The process of turning over unclaimed or abandoned property to a state authority.

without a valid will, statutes determine how her property is divided up among her relatives; if no relatives can be found, the property escheats (i.e., goes to the government). Wills are made to vary the statutory scheme (e.g.

See also: Asset, Beneficiary, Escheat, Estate Planning, Heir, Inheritance, Will
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Escheatment laws require mutual funds to turn over uncashed or returned check dollars and/or client account fund shares if the owner cannot be located within a length of time determined by each state.
Escrow ...

Abandoned property (for example, stocks or securities) will eventually revert to the state under the laws of escheat (a common law doctrine meant to ensure that ownerless property does not remain in limbo).

In a sense, all land presently or ultimately belongs to the state, for whatever is not actually owned by the public authority may be transferred to it by escheat (when there is no heir to the owner) or in condemnation proceedings under the power of ...

Cut Off Date definition :
The date prescribed in the unclaimed property law in most states for determining the items of property that must be turned over to the state. See: Escheat.
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Outstanding Dividends
Dividend checks which have been mailed to shareholders of record but not yet cashed. Funds are held until the check is paid, reissued or escheated to the state as abandoned property.

In other states, if the property goes unclaimed for too long, it may become the state's property through a process known as escheatment. One purpose of abandoned property laws is to relieve the asset holder of liability.

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