What is the term used for the reversion of property to the state when a property owner dies intestate and has no heirs?

The term "escheats" refers to the legal process by which property reverts to the state when a property owner dies without a valid will (intestate) and has no rightful heirs to inherit the property. This process ensures that unclaimed property does not remain in limbo but instead is returned to the state, allowing for the potential use of the property for public benefit or resale.

In cases of escheat, state laws dictate that if no relatives or heirs can be established to claim the deceased's estate, the property essentially "escheats" to the government. This framework prevents abandonment of property and facilitates the management of assets by the state.

The other concepts mentioned, such as foreclosure, intervivos trust, and general partnership, relate to entirely different legal and financial scenarios. Foreclosure pertains to the process of repossessing property due to non-payment of a mortgage, while an intervivos trust is a means of estate planning that allows for the transfer of assets during a person's lifetime. A general partnership involves a business arrangement between individuals creating a company in which they share profits and liabilities. Understanding the specific nature of these terms helps clarify why "escheats" is the correct and relevant choice in this context.