Illinois Compiled Statutes 755 ILCS 20/1 – If any person dies owning any real or personal estate without any …
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Terms Used In Illinois Compiled Statutes 755 ILCS 20/1
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Legacy: A gift of property made by will.
- Probate: Proving a will
If any person dies owning any real or personal estate without any legacy, and leaving no known heirs or representatives capable of inheriting the same, or the legatees thereof are incapable of holding the same, and in all cases when there is no owner of real estate capable of holding the same, such real and personal estate shall escheat as provided in the Probate Act of 1975, as amended.