Property Ownership
In Indiana, 'escheat' refers to the process by which:
AThe government condemns a property for non-payment of taxes
BProperty of a person who dies without heirs and without a valid will passes to the state✓ Correct
CThe lender forecloses on a defaulted mortgage
DA co-owner is forced to sell their share to the other co-owners
Explanation
Escheat is the legal process by which property of a person who dies intestate (without a will) and without legal heirs reverts to the state. In Indiana, unclaimed property also escheats to the state after a specified dormancy period.
Related Indiana Property Ownership Questions
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- Which of the following BEST describes an appurtenance?
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