PSI Virginia Real Estate Complete Practice Exam

Question: 1 / 400

What happens to abandoned property of intestate owners with no heirs?

It is auctioned off

It reverts to the state

When an individual dies intestate (without a will) and has no heirs, the property they left behind is considered abandoned. In such cases, the legal principle of escheat applies. This doctrine states that property must revert to the state if there are no legal heirs or claimants. The state takes possession of the abandoned property and may then manage it, sell it, or dispose of it according to law.

This process helps ensure that property does not simply remain unclaimed indefinitely, promoting responsible governance over unowned assets. Additionally, while distant relatives could potentially inherit property if they can establish a legal claim, the scenario in the question specifies there are no heirs, making the state's claim the definitive action. Therefore, the property reverts to the state as part of the escheatment process.

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It is claimed by distant relatives

It remains unclaimed indefinitely

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