Property Ownership
In New Jersey, 'escheat' is the process by which:
AA lender takes back a property through foreclosure
BReal property passes to the state when an owner dies without heirs and without a valid will✓ Correct
CA government agency leases excess property to private parties
DA property is sold at tax sale
Explanation
Escheat is the reversion of property to the state when the owner dies intestate (without a will) and there are no qualifying heirs. In NJ, the state becomes the owner of such property under the laws governing unclaimed property and intestate succession.
Related New Jersey Property Ownership Questions
- In NJ, a 'homestead' right historically protected the family home from certain creditors. In modern NJ law, the concept is reflected in:
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