N.Y. Abandoned Property Law 200 – Escheated lands
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§ 200. Escheated lands. All lands the title of which shall fail from a defect of heirs, shall revert, or escheat, to the people.
Terms Used In N.Y. Abandoned Property Law 200
- 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