California Real Estate Salesperson Exam Practice – Question 62

Explanations

When a person, like Charles, dies intestate (meaning without leaving a valid will), and no legal heirs can be found to claim their property, the estate undergoes a legal procedure known as escheat. Through escheat, the property (in this case, the $60,000 estate) legally reverts to the state government. The Chinese source explicitly states that “the result of escheat is that the property belongs to the state of California”.

Therefore, the estate would revert to the state, not the county, nor would it be held for a specific period before reverting to a county, nor automatically given to a charitable organization unless specified in a will (which is not the case here as Charles died intestate).

Pages: 1 2 3


Discover more from Real Estate – Air School Of Thoughts

Subscribe to get the latest posts sent to your email.

Comments

Leave a Reply