Escheat

We have talked about how you give property away (Voluntary Alienation) and how it passes to your heirs (Descent). Now, we need to talk about three specific ways you can lose your property without wanting to.Escheat"The Government is the Ultimate Heir"The word "Escheat" sounds like "Cheat," and that is how most people remember it. It feels like the government is cheating you out of your property, but really, it is a way to ensure no property remains ownerless.Escheat is the reversion of property to the State when an owner dies intestate (without a Will) and has no known heirs.Land cannot be "orphaned." Someone must own it to pay taxes and maintain it.If you die without a plan (Will) and without a family (Heirs), the State of Florida steps in as the "Heir of Last Resort" and takes the title.Takeaway: Make a will, or the government gets your house!