ESCHEATMENT
escheatment: translation
The process of turning over unclaimed or abandoned property to a state authority. Escheatment laws require mutual funds to turn over uncashed or returned check dollars and/or client account fund shares if the owner cannot be located within a length of time determined by each state. Bloomberg Financial Dictionary
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escheat es‧cheat [ɪsˈtʆiːt] noun [uncountable]
LAW a legal process in which someone's money and property are given to the state after they die if they do not have a will, or if there is nobody else with a legal right to receive their money or property:
• By the old doctrine of escheat, states and municipalities may capture unclaimed and dormant bank deposits.
— escheatment noun [uncountable]