Escheat

Escheat describes the process of property reverting to the state due to the lack of beneficiaries to inherit it.

This most often happens when an owner dies without heirs or a legal will to stipulate how assets should be distributed.

While some might find this law unfair, it plays a significant role in ensuring that no property is left without recognized ownership.

Should hazards happen on the property, there must be a proper owner to take care of things.

In cases of property abandonment, escheat can lead to the state taking over possession of property should there be no legal heirs and ownership claims made against it.

Should a claimant come forward to reclaim ownership of escheated property, an application with supporting documentation is to be submitted to the relevant authorities.

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