When the inquest is concluded and the verdict concurred in by at least seven of the jurors impaneled such verdict shall be signed by those so concurring and by the escheator. The escheator shall, within 10 days, return the verdict to the clerk’s office of the circuit court. After receiving the verdict, the clerk of such court shall record it in accordance with § 17.1-266 and shall provide copies within 10 days to the commissioner of the revenue and the local treasurer or the person performing those duties. This escheat verdict shall be recorded in the grantor index of the record books in the clerk’s office.

Terms Used In Virginia Code 55.1-2408

  • 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
  • Grantor: The person who establishes a trust and places property into it.
  • Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
  • Verdict: The decision of a petit jury or a judge.

Code 1919, § 496; Code 1950, § 55-175; 1977, c. 583; 1984, c. 315; 1988, c. 377; 1990, c. 938; 2019, c. 712.

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