Word of the Day – The Language of Real Estate

Escheat
 
The reversion of property to the state or county, as provided by state law, in cases where a decedent dies (without a will) and there are no heirs capable of inheriting or when the property is abandoned. In some states, bank accounts unused for more than seven years escheat to the government.

Share This Post

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay connected.

Get up to the minute updates and resources.

Search
Other Articles

Stay Connected.

Get up to the minute updates and resources.