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Escheat

Escheat is the power of a state to acquire property that is left without a rightful owner after the original owner dies without leaving a will or relatives that are entitled to claim the property. The property is also considered to be intestate and becomes the property of the state. Individuals who have no family members to leave their property to and don't want to have their property become property of the state should leave their property to the charity of their choosing. This type of will is simple to prepare and can be filed in the local probate court making it valid and preventing the state from taking over property once death occurs. Escheat extends to bank accounts and unclaimed monies that belong to the person whose estate is intestate.

Fast Facts

  • Some states claim escheat over properties that belong to groups that live in polygamy or fail to incorporate their property as required.
  • States must follow due process before claiming property under escheat laws, they must attempt to find any potential heirs or owners.

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