Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
State Escheat Statutes And Possible Treatment Of Stored Value, Electronic Currency, And Other New Payment Mechanisms, Anita Ramasastry
State Escheat Statutes And Possible Treatment Of Stored Value, Electronic Currency, And Other New Payment Mechanisms, Anita Ramasastry
Articles
Unclaimed property and escheatment is governed primarily by state statutory schemes. State unclaimed property statues require that after a specified period of time, unclaimed and abandoned property escheats to the states. The owner of the property may request return of the property upon proof of his or her ownership. Although several states have adopted the Uniform Unclaimed Property Act as their state escheatment statute,' there are variations in these state statutes. Nonetheless, all state statutes deal with traveler's checks and money orders; most also address gift certificates. Notably absent in all of the state statutes, with the exception of North …
Escheat - How State Acquires Title, Edwin C. Goddard
Escheat - How State Acquires Title, Edwin C. Goddard
Articles
Escheat is of feudal origin, and properly applied only to land which on failure of heirs or for certain other reasons, "fell in" to the lord under whom it had been held. Personal property without an owner, as bona vacantia, became the property of the crown. In re Bond [1901] 1 Ch. 15. In the United States escheat is used more broadly, but usually arises when the owner of property dies intestate without heirs. Our alienage laws have generally removed disabilities of aliens to take, but in some jurisdictions there may still be escheat because of alienage, see 5 MICH. …