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Understanding Escheatment: A Simple Guide for Seniors
What is Escheatment? Escheatment is a legal process through which unclaimed or abandoned property is transferred back to the state or government after a specified period of inactivity. This process is designed to ensure that assets do not remain in limbo indefinitely, and it serves to protect the interests of both the state and the
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A Beginner’s Guide to Escheatment: Understanding the Basics
What is Escheatment? Escheatment is a legal process by which unclaimed or abandoned property reverts to the ownership of the state. This process serves to manage properties that are left without an identifiable claimant. Various types of property can be subject to escheatment, including but not limited to bank accounts, uncashed checks, insurance proceeds, and
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