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escheat |
Also found in: Legal, Financial, Wikipedia, Hutchinson | 0.04 sec. |
escheat [iss-cheat] Law Noun 1. formerly, the return of property to the state in the absence of legal heirs 2. the property so reverting Verb to obtain (land) by escheat [Old French escheoir to fall to the lot of] Escheat of lawyers—Lipton, 1970. ThesaurusLegend: Synonyms Related Words Antonyms
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While due process prevents more than one jurisdiction from escheating a given property item (Western Union Tel. The expiration of the relevant civil statute of limitations, however, typically does not prevent unclaimed property from escheating to the state. They include increasing the taxes on cigarette and other tobacco products as well as alcohol beverages and escheating unclaimed bottle deposits, among other measures. |
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