Economy, asked by archita25032004, 26 days ago

what escheats and forfeitures​

Answers

Answered by ITZMEGOVARDHANREDDY
1

Answer:

property or money for which no owner can be found and for that reason becomes the property of the state: Abandoned financial property, known as escheat, is one of the state's largest revenue sources.

Explanation:

Forfeiture is the loss of any property without compensation as a result of defaulting on contractual obligations, or as a penalty for illegal conduct. ... When mandated by law, as a punishment for illegal activity or prohibited activities, forfeiture proceedings may be either criminal or civil.

Similar questions
Math, 9 months ago