Etymology
The word "escheat" comes from the Old French word "escheoir," meaning "to fall or lapse." It is derived from the Latin word "cadere," meaning "to fall."
Meaning
Escheat is a legal term that refers to the transfer of property to the government when there is no known heir or when the owner dies without a will. The government acquires the property as a matter of law.
Origin
The concept of escheat has been around for centuries. In ancient Rome, property that was not claimed by an heir passed to the emperor. In medieval England, property that was not claimed by an heir passed to the lord of the manor.
In the United States, escheat laws vary from state to state. However, most states have laws that provide for the escheat of property to the state when there is no known heir or when the owner dies without a will.
Escheat laws are designed to protect the government from losing revenue and to ensure that property is not abandoned or left to deteriorate.
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