escheat

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  • noun

Words related to escheat

a reversion to the state (as the ultimate owner of property) in the absence of legal heirs

the property that reverts to the state

References in periodicals archive ?
Instead, most escheated gift card money reverts to the state's general fund.
Robbins Umeda LLP is investigating whether certain officers and directors of Prudential breached their fiduciary duties and caused damage to the company and its shareholders by issuing materially false and misleading statements concerning: (i) the company's current and future financial condition; (ii) the company's potential liability to policyholders, beneficiaries and relevant state authorities for millions of dollars in benefits that should have been paid out to policyholders or escheated to the states; and (iii) the extent of the company's exposure to claims of state and federal law violations.
1 The subject lot was escheated to Alachua County by Tax Sale Certificate No.
Every year, hundreds of millions in unclaimed assets are escheated to state governments following a specified dormancy period.
New York escheated the undistributed funds from abandoned securities held by intermediaries doing business in New York.
Getting that asset back from the state once it's been escheated is very difficult.
1 The subject property was escheated to Alachua County Tax Sale Certificate no.
is a leader in locating lost and abandoned assets that have been escheated to State and Federal Government agencies, which are holding billions of dollars derived from dormant bank accounts, lost or forgotten stocks and bonds, forgotten safe deposit boxes, money from health benefits and lost assets belonging to Estates.
brokerage accounts decreased by 2,392 in the month, including a reduction of 5,870 escheated accounts.