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Unowned property includes tangible, physical things that are capable of being reduced to being property owned by a person but are not owned by anyone. Bona vacantia (Latin for "ownerless goods") is a legal concept associated with the unowned property, which exists in various jurisdictions, with a consequently varying application, but with origins mostly in English law.
In Australia, unclaimed money laws provide a one to two year reporting period each year whereby unclaimed bank accounts, superannuation, deceased estate inheritances, insurance, shares, dividends, utility deposits, unpresented cheques and other forms of "unclaimed money" are reported to the appropriate governing body under which the ...
In England and Wales, the possibility of escheat of a deceased person's property to the feudal overlord was abolished by the Administration of Estates Act 1925; however, the concept of bona vacantia means that the Crown (or Duchy of Cornwall or Duchy of Lancaster) can still receive such property if no-one else can be found who is eligible to ...
Patti Wilson is the unclaimed property administrator for the State of Washington. "I always tell people this is like the best job in state government," she said. She works every day to help ...
Across the nation, more than $20 billion is waiting to be reclaimed by citizens who may not even know they may be owed cash from "unclaimed property," which can include uncashed paychecks, refunds ...
It is one of two rights to ownerless property that the Crown possess, the others being bona vacantia. Because of ancient nature of the Crown's right, little academic or case law focuses on the application of ultimus haeres in Scots Law. However, the leading authoritative text in this area is A.G MacMillan, The Law of Bona Vacantia in Scotland. (W.
Where no beneficiaries on the above list exist, the person's estate generally escheats (i.e. is legally assigned) to the Crown (via the Bona vacantia division of the Treasury Solicitor) or to the Duchy of Cornwall or Duchy of Lancaster when the deceased was a resident of either. In limited cases a discretionary distribution might be made by one ...
Sep. 1—WILKES-BARRE — Treasurer Stacy Garrity this week announced that Pennsylvania will receive more than $20 million in unclaimed property following a settlement that concludes the landmark ...