Property Ownership
In New York, 'escheat' to the state occurs for real property when:
AThe owner fails to pay property taxes
BThe owner dies intestate with no heirs and no other person has a valid claim to the property✓ Correct
CThe property is abandoned for 10 years
DA lien is not satisfied within 3 years
Explanation
Escheat in New York occurs when a decedent dies intestate without any heirs eligible under the EPTL intestate succession rules. The property passes to the State of New York by operation of law.
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