If a real estate owner dies without leaving a will and there are no surviving heirs to the property, ownership of the estate escheats to the state or government. In other words, the right of possession is passed on to the state or government.
Remember to make a will if you have no heirs. Otherwise, your property will revert back to the state in the event of your death.
Real Estate Term Escheat
- Published Aug 23, 2017
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This definition has been provided for general information purposes only and does not constitute legal, investment or other professional advice. You should seek the advice of a financial or real estate professional before making any type of investment.