escheatable in a sentence
a.
Definition
Escheatable refers to property or assets that revert to the state or government when an owner dies without a will or legal heirs, or when funds remain unclaimed for a specified duration.
Sample Sentences
- The property was declared escheatable after the owner died without a will or any known heirs.
- In many jurisdictions, funds that remain unclaimed for a certain period may be considered escheatable by the state.
- Lawyers must be aware of the escheatable status of assets to properly advise their clients on estate planning.
- The concept of escheat ensures that unclaimed property is returned to the state for public use rather than remaining in limbo.
- After thorough investigation, the assets were confirmed to be escheatable, leading to their transfer to the government.