escheat law
jure caduco latin

Some forms of property, if abandoned long enough, can fall into the hands of state and Federal governments under what are known as escheat laws.

Under state statutes, known as escheat laws, unclaimed funds must be turned over to the government at varying times, depending on the type of property.

Unclaimed bank funds fall under "escheat laws" that typically require such funds be turned over to the state.

Specific exceptions to the general rule of federal preemption exist such as some contract law, escheat law, and insurance law.

These escheat laws allow states to collect a portion of the profits of the unredeemed gift cards from their respective companies.

Although not all companies willingly comply with escheat laws, many states, including Delaware, Alabama and Indiana, have added millions of dollars to their coffers thanks to abandoned gift cards.

The construction was however stalled due to concession disputes, as it was claimed that the work on the plant had begun before Norwegian escheat laws had been put in force in 1907.