escheatment

[ es-cheet-muhnt ]

noun

1. the reverting of property to the state or crown when there is no qualified heir or claimant; escheat.
2. the legal actions or steps involved in this transfer:

   The 1995 act streamlined the process of escheatment for both holders and state regulatory agencies.

Word History and Origins

Origin of escheatment¹

First recorded in 1865–70; escheat ( def ) + -ment ( def )