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escheat
(redirected from escheating)

    Also found in: Dictionary/thesaurus, Legal, Wikipedia, Hutchinson 0.04 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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While due process prevents more than one jurisdiction from escheating a given property item (Western Union Tel.
Unclaimed property reporting for LLCs under Texas v. New Jersey by Winther, Christian M. / The Tax Adviser
The expiration of the relevant civil statute of limitations, however, typically does not prevent unclaimed property from escheating to the state.
Unclaimed property audits: George Orwell would be proud by Sweeney, Timothy J. / Tax Executive
They include increasing the taxes on cigarette and other tobacco products as well as alcohol beverages and escheating unclaimed bottle deposits, among other measures.
Fitch Rates Connecticut's $300MM GO Bonds 'AA' by Business Wire
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