Unclaimed Property Is Often Transferred to the Government Under the Concept

question 39

True/False

Unclaimed property is often transferred to the government under the concept of escheat.

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Definitions:

Purchase Agreement

A legal document outlining the terms and conditions under which a sale of property will take place.

Parcel

A parcel refers to a package or piece of land, especially one that is part of a larger area or to be used for a specific purpose.

Vendor

An individual or company offering goods or services for sale.

Encroachments

Unauthorized intrusion or extension of a building, structure, or other improvement onto another's property.