Escheat
Banking
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.
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.
- — Dictionary of Banking Terms and Phrases retrieved 2014-05-16
Personal Finance
Transferring savings accounts 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.
- — Pocket Cents Glossary retrieved 2014-05-16
Common Legal Terms
The process by which a deceased person's property goes to the state if no heir can be found.