GK
RTI ACT 2005
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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One succeeding to the property of his aunt
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Property goes to Government if nobody is the owner of it
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A legal dispute
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None of the above
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Detailed explanation-1: -The term ‘escheat’ means a reversion to the state in the absence of legal heirs. If a person dies intestate leaving no heirs whatsoever, then the doctrine of escheat can be invoked, whereby the estate of the deceased reverts to the state.
Detailed explanation-2: -Escheat is the jurisdiction of the government to own orphaned goods and assets. When a person passes away without leaving a will or any heirs, the doctrine of escheat is applied. It also applies to situations where property goes unclaimed for a long time, though.
Detailed explanation-3: -For unclaimed dividends and undistributed assets of companies in liquidation there is provision for their going to the public account of India in the Reserve Bank under S. 555 of the Companies Act.
Detailed explanation-4: -Key Takeaways Bona vacantia, also known as “vacant goods” or “ownerless goods” refers to property that does not have a clear owner. Bona vacantia property may have been abandoned, mislaid, forgotten, or unclaimed by its rightful owner.