escheat

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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 acquisition of property by a state or government from the estate of a deceased person. An escheat occurs when the deceased person has no will, no relatives, and no survivors to whom the property would otherwise go. Because it is rare for a person to have no relatives at all, escheats are fairly unusual. The concept has its origins in feudalism, when the immediately superior feudal lord would inherit property that would otherwise be left without an owner. Different states have different laws governing escheats.

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.

escheat

The reversion of property to the state because of the lack of anyone to inherit it.

References in periodicals archive ?
64) These close familial relationships--John Tiptoft's marriage to Cecily Neville, and his sister's marriage to Edmund--seem to have benefited the Hamonds as well, since William Hamond was appointed as escheator for Cambridgeshire and Huntingdonshire on 5 November 1468 until the same date the following year.
As escheator for the county, Hamond would have had some authority, and would have been in regular association with other figures of justice.
William Hamond was escheator only from 1468 to 1469; he did not, in fact, have any position of authority following that date.
William was also escheator for Cambridgeshire and Huntingdonshire from 23 November 1436 to 23 November 1437, and sheriff for the same two counties from 7 November 1437 to 3 November 1438 and 8 February 1451 to 8 November 1451; see A.
s, escheators and comissioners of many kinds, while parish gentry served as coroners, hundred bailiffs, tax collectors and purveyors, with husbandmen performing duties as constables and jurymen which brought social recognition and were stepping-stones to gentry status.