3.Revenue earned by the government from the property without any legal heir is
(2 Points)
Donations
Escheat
Special assessment
Fees
Answers
Answer:
answer is Escheat c option
Explanation:
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Answer:
Escheat is a type of non-tax revenue that refers to the government's claim on the property of a deceased individual who has no legal heirs or will for the property left behind. This is a sort of government revenue.
Explanation:
What is escheat?
Escheat is the government's right to hold unclaimed goods and assets. When a person dies without a will or heirs, the theory of escheat is applied. However, it also applies in circumstances when property has gone unclaimed for an extended length of time. In the absence of heirs or beneficiaries, the government has the power to seize estate assets or unclaimed property. When assets go unclaimed for an extended length of time, escheat rights may be given. The procedure through which unclaimed assets are turned over to the state is known as escheatment. Every year, a large number of bank accounts and properties go unclaimed. After a certain amount of time, the assets are transferred to the state.
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