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LeoGlossary: Escheat

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Published: 11 Aug 2022 › Updated: 11 Aug 2022LeoGlossary: Escheat

LeoGlossary: Escheat

Reversion of real or personal property to the state when:

  • a person dies without leaving a will and has no heirs

  • when the property (such as a bank account) has been inactive for a certain period of time.

See inactive account

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