Escheat - It is the legal assertion that unclaimed goods and assets belong to the government. When a person passes away without leaving a will or any heirs, the doctrine of escheat is applied. It also applies to situations where property goes unclaimed for a long time, though.
Bona Vacantia
It is a circumstance where there is no owner remaining on the property. Such property is typically held by the government but may be reclaimed by the owners or heirs who are legally entitled to it. After a given amount of time, bona vacantia property, which is unclaimed, reverts to government control.
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5 окт 2024
