Law: Escheat

Just as nature abhors a vacuum so the law abhors a vacant ownership of anything. In the U. S. the States are the original and ultimate proprietors of all lands within their jurisdictions. And the ancient feudal doctrine of Escheat or accidental reverting of lands to the original lord has been applied in modern law not only to lands but to personal property, unclaimed savings deposits, dividends, and securities. Most laymen and many lawyers think of escheat only when persons die without wills and heirs. Last week smart lawyers all over the U....

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