SIE Exam Question 848: Answer and Explanation

Question: 848

Which of the following is the process through which the state takes ownership of property that is, or is believed to be, abandoned or unclaimed?

• A. Defeasement
• B. Escheatment
• C. Estoppel
• D. Indemnification

Correct Answer: B

Explanation:

Escheatment is the process through which the state takes ownership of property that is, or is believed to be, abandoned or unclaimed.