Escheat

Business, Legal & Accounting Glossary

Definition: Escheat


Quick Summary of Escheat


The reversion of property to the state, or (in feudal law) to a lord, on the owner’s dying without legal heirs.




What is the dictionary definition of Escheat?

Dictionary Definition


The forfeit of all property to the state when a person dies without heirs.

n. from old French eschete, which meant “that which falls to one,” the forfeit of all property (including bank accounts) to the state treasury if it appears certain that there are no heirs, descendants or named beneficiaries to take the property upon the death of the last known owner.

  1. The return of property of a deceased person to the state (originally to a feudal lord) where there are no legal heirs or claimants.
  2. The property so reverted.
  3. Plunder, booty.
  4. That which falls to one; a reversion or return.
  5. To revert to a state or lord because its previous owner died without an heir.

Full Definition of Escheat


To revert to the Crown in Demesne (see demesne land of the crown). Land is escheated if the owner of the Freehold dies Intestate and he has no relatives to whom the land might pass by the rules of intestate succession.


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Escheat. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 23, 2021 https://payrollheaven.com/define/escheat/.
Chicago Manual of Style (CMS):
Escheat. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/escheat/ (accessed: September 23, 2021).
American Psychological Association (APA):
Escheat. PayrollHeaven.com. Retrieved September 23, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/escheat/

Definition Sources


Definitions for Escheat are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th April, 2020 | 0 Views.