escheatage in a sentence
n.
Definition
Escheatage is the legal process by which unclaimed assets or property revert to the state after a designated period of inactivity or abandonment.
Sample Sentences
- The concept of escheatage is often overlooked in discussions about property law.
- In cases of escheatage, unclaimed assets revert to the state after a specified period.
- The local government held a public meeting to discuss recent escheatage cases affecting local residents.
- Understanding escheatage can help individuals avoid losing their inheritance to the state.
- Many people are unaware that their forgotten bank accounts could be subject to escheatage.