Define escheat. escheat synonyms, escheat pronunciation, escheat translation, English dictionary definition of escheat. n. 1. Reversion of land held under feudal tenure to the manor in the absence of legal heirs or claimants. 2. Law a. Reversion of prope
Legal Definition escheat 1 of 2 noun es·cheat is-ˈchēt 1 : escheated property 2 : the reversion of property to the state upon the death of the owner when there are no heirs escheat 2 of 2 transitive verb : to cause to revert by escheat intransitive verb : to ...
Legal Definition escheat 1 of 2 noun es·cheat is-ˈchēt 1 : escheated property 2 : the reversion of property to the state upon the death of the owner when there are no heirs escheat 2 of 2 transitive verb : to cause to revert by escheat intransitive verb : to ...
n. from old French eschete, which meant “that which falls to one,” the forfeit of all property (including bank accounts) to the state treasury if it appears certain that there are no heirs, descendants or named beneficiaries to take the property upon the death of the last known owner. ...
Escheat definition: the reverting of property to the state or some agency of the state, or, as in England, to the lord of the fee or to the crown, when there is a failure of persons legally qualified to inherit or to claim.. See examples of ESCHEAT used
Define escheator. escheator synonyms, escheator pronunciation, escheator translation, English dictionary definition of escheator. n law a person appointed to deal with escheats Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 ©
State escheator Brenda R. Mayrack declined the newspaper’s request for comment. FromSeattle Times With four great abbeys falling vacant in little over ten years, the royal exchequer reaped a good harvest; and though the payment of a lump sum was better than falling into the hands of the ...
Definition of escheatment Escheatment is the process of a financial institution handing over unclaimed property to its state. That includes bank accounts, assets, or any other property unclaimed for an extended period of time. And, if a person dies without leaving a beneficiary to their property...
Escheatment laws adopted by various states require that personal property that is deemed to be abandoned or ownerless, including mutual fund shares and bank deposits, be transferred to the state. In consideration of the performance of the Core Escheatment Services by the Transfer Agent, the Funds...
Escheatment is the process of transferring assets to the state. Escheat rights are often revocable—reclamation rights can extend into perpetuity if no statute of limitations exists. This means that ownership of an estate or property/assets could revert to a lawful heir or owner should one turn...