Property Ownership

A Vermont property owner dies without a will (intestate) and without heirs. The property will pass to:

AThe neighboring landowner by operation of law

BThe State of Vermont through the doctrine of escheat✓ Correct

CThe Vermont Real Estate Commission for public use

DThe last broker who listed the property

Explanation

If a Vermont property owner dies intestate (without a will) and has no heirs, the property escheats (passes) to the State of Vermont. Escheat prevents property from becoming ownerless.

People Also Study

Key Terms to Know

Fee Simple

The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.

Joint Tenancy

Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.

Tenancy in Common

Co-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).