Which of the following best describes the legal concept of escheat?
Correct Answer
D) The reversion of property to the state when an owner dies without a will and without legal heirs
Escheat is the process by which property reverts to the state when a person dies intestate (without a valid will) and has no identifiable legal heirs to inherit the property. In Montana, escheat is governed by state law, and the property passes to the State of Montana rather than to any individual. Escheat differs from eminent domain (government taking for public use with compensation), tax forfeiture (seizure for unpaid taxes), and foreclosure sales.
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Related Topics & Key Terms
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Recording is the act of placing a document in the public records at the county recorder's office to give constructive notice to the world of an interest in real property. Recording protects the holder's interest against subsequent claims.
A special warranty deed guarantees that the grantor has not caused any title defects during their period of ownership, but does not warrant against defects that existed before the grantor acquired the property.
Title insurance is a policy that protects the insured party against financial loss from defects in title that were not discovered during the title search. Unlike other insurance, it covers past events rather than future risks.
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