MLchartDataset catalogue

Escheat

Term · Law · MLC-T-LAW-001909

The reversion of property to the state when a person dies without heirs and without a will. This principle prevents property from becoming ownerless. Modern escheat laws often apply to abandoned financial assets, such as dormant bank accounts or uncashed checks, which are transferred to state treasuries after a specified period of inactivity.

Table 1. Record
IdentifierMLC-T-LAW-001909
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001909",
  "term": "Escheat",
  "field": "Law",
  "definition": "The reversion of property to the state when a person dies without heirs and without a will. This principle prevents property from becoming ownerless. Modern escheat laws often apply to abandoned financial assets, such as dormant bank accounts or uncashed checks, which are transferred to state treasuries after a specified period of inactivity.",
  "url": "https://mlchart.com/terminology/law/escheat/"
}

Record 1,799 of 5,441 in Law terminology (MLC-0107). Request the full dataset.