What is an escheat?

Escheat is a legal term that refers to the process of the state taking control of a deceased person’s property if they don’t have any known heirs. In Massachusetts, if a person dies without leaving a will, their property is immediately transferred to the state of Massachusetts in a process known as “escheatment.” The state then has the right to sell the property or use it for the public good. The proceeds from the selling of escheated property typically go into the state’s general fund. When a person dies, their family members may file a claim for the property and receive it from the state government if they can prove their family ties to the deceased. If the family members cannot prove their familial ties, the property is transferred into the state’s possession. Additionally, any bank accounts, investments, or other assets owned by the deceased that have been inactive for a certain amount of time will also be considered to be in the possession of the state. These types of assets are known as “escheatable assets.” In the state of Massachusetts, the process of escheat is overseen by the Office of the State Treasurer, which is responsible for keeping track of all escheated property.

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What is an escheat?

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