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escheatment
[ es-cheet-muhnt ]
noun
- the reverting of property to the state or crown when there is no qualified heir or claimant; escheat.
- the legal actions or steps involved in this transfer:
The 1995 act streamlined the process of escheatment for both holders and state regulatory agencies.
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Word History and Origins
Origin of escheatment1
First recorded in 1865–70; escheat ( def ) + -ment ( def )
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