Property Ownership
In New York, the term 'escheat' refers to:
AThe forfeiture of a property owner's rights due to unpaid taxes
BThe reversion of property to the state when a person dies without a valid will and without any heirs✓ Correct
CThe condemnation of property for public use
DThe transfer of property to a trust for estate planning purposes
Explanation
Escheat is the legal principle by which property reverts to the state (New York in this case) when a person dies intestate (without a will) and there are no identifiable heirs to inherit the property. New York's intestacy laws establish the priority of heirs, and if no heirs qualify, the property escheats to the state.
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