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escheat (n.)

the reverting of land to a king or lord in certain cases, early 14c., from Anglo-French eschete (late 13c.), Old French eschete "succession, inheritance," literally "that which falls to one," noun use of fem. past participle of escheoir "happen, befall, occur, take place; fall due; lapse (legally)," from Late Latin *excadere "to fall out," from Latin ex "out, away" (see ex-) + cadere "to fall" (from PIE root *kad- "to fall"). As a verb, from late 14c. Related: Escheated; escheating. Late Latin *excadere represents a restored form of excidere, which yielded excise.

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Definitions of escheat from WordNet

escheat (n.)
a reversion to the state (as the ultimate owner of property) in the absence of legal heirs;
escheat (n.)
the property that reverts to the state;
From wordnet.princeton.edu