Escheatment: what it means and why it matters

What is escheatment? When a firm is unable to locate an account owner, and that account has remained inactive for a state specified amount of time (often three to five years), the state will claim the account through "escheatment." Once claimed, the state becomes the owner of the account. Afterwards, states will often sell the ...

2021-09-23T13:07:25-06:00July 22, 2020|Business Trends|
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