escheat

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Definitions from WordNet

Noun escheat has 2 senses

escheat - a reversion to the state (as the ultimate owner of property) in the absence of legal heirs
--₁ is a kind of reversion
escheat - the property that reverts to the state
--₂ is a kind of transferred property, transferred possession

Definitions from the Web

Escheat

Definition: Escheat refers to the legal process through which property or assets are transferred to the government when it has no legal owner or heirs. It is based on the principle of ensuring that property does not remain unclaimed or dormant.

Possible senses:

Sense 1 (Noun):

Definition: The reversion of property to the state or government due to the absence of rightful heirs or owners.

Example: After years of abandonment, the dilapidated house underwent escheat, and the government eventually sold it at auction.

Sense 2 (Verb):

Definition: To transfer property or assets to the state or government when there are no legal heirs or owners.

Example: If the landowner dies without leaving a will or any identifiable heirs, the property will escheat to the state.

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