Indiana Code 34-17-1-3. Escheat or forfeiture of property to state
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Terms Used In Indiana Code 34-17-1-3
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 3. Whenever property escheats or is forfeited to the state for the state’s use, the legal title is considered to be in the state from the time of the escheat or forfeiture. An information may be filed in accordance with IC 34-17-2-3 to recover the property.
[Pre-1998 Recodification Citation: 34-1-59-13 part.]
As added by P.L.1-1998, SEC.12.