Escheat

Escheat is a legal process where the ownership of unclaimed or abandoned property reverts to the government. This usually happens when an individual dies without a will or heirs and leaves behind assets like money, real estate, or personal items. The state steps in to manage these assets, ensuring they do not remain unclaimed indefinitely. Escheat laws vary by jurisdiction, but the underlying principle is to prevent property from being left without ownership and to allow the government to manage or redistribute those assets for public benefit.