If the true owner does not come forward and the finder does not wish to claim ownership, title to the property transfers to the state _________.
A) after a period specified by statute.
B) immediately.
C) upon the state filing a claim to title.
D) at the owner's direction.

Question

Quizplus · Accepted Answer

Most states have statutes that dictate a specific period of time after which unclaimed property is transferred to the state. This is generally referred to as the "escheat" period. Once this period elapses, title to the property automatically transfers to the state.

If the True Owner Does Not Come Forward and the Finder