What is escheat?

Study for the Gold Coast Real estate Sales Associate Pre-License Test with multiple choice questions! Get hints and explanations for each question. Prepare for your exam with confidence!

Escheat refers specifically to the process by which property reverts to the state when an individual dies intestate, meaning they have passed away without a valid will. In such cases, there are often no legal heirs to claim the deceased's assets. To prevent the property from being abandoned, the state steps in to take ownership. This legal principle ensures that property does not remain unclaimed, allowing it to be utilized for public benefit.

The other provided options do not accurately define escheat. Transferring property to an heir pertains to the distribution of an estate when the deceased has a will and identified heirs. The government's right to seize property for public use refers to eminent domain, not escheat. Finally, the legal process for settling a deceased individual’s estate is typically known as probate, which encompasses a broader range of activities than escheat alone. Thus, the description that encompasses the reversion of property to the state upon intestacy is the most fitting definition of escheat.

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