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escheat
(redirected from Escheator)

    Also found in: Dictionary/thesaurus, Legal, Wikipedia, Hutchinson 0.03 sec.
Escheat
When property and/or an estate is transferred to the government because a person has died without a will or an heir to his or her estate.

Notes:
Transferred property can be claimed back by relatives if they have a worthwhile case.

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. This is known as the holding period or cut-off date.
escheat
The right of the state to claim a deceased person's property when there are no individuals legally qualified to inherit it or to make a claim to it. This occurrence is fairly unusual even when the deceased leaves no will.
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