Business, Legal & Accounting Glossary
The process of turning over unclaimed or abandoned property to a state authority, such as if a person dies without a will.
You should try and figure out how to use any escheatment to your advantage to get profit from it if you can.
The escheatment process was underway and we gave a lot of stuff to the state because of the recent death of a man.
The escheatment was necessary so the landlord took the responsibility of contacting the proper authorities to handle the material possessions.
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This glossary post was last updated: 30th October, 2021 | 0 Views.