Summary - The Escheats Act

The Escheats Act When a person dies without a will and without heirs or next-of kin, or when a corporation, association or a society has been dissolved, wound-up, or no longer exists, The Escheats Act provides that the provincial government (the "Crown") becomes entitled to that person's real or personal property, and the real property of the corporation, association or society. Property that is transferred to the Crown may be re-claimed by an heir, shareholder or creditor after the owner dies or the organization is dissolved, and within the time period set out in The Limitations Act. The Lieutenant Governor in Council may transfer the property: • To any person who has a legal or moral claim upon the previous owner, or • A just or natural right or claim to the property; • To give effect to any disposition the deceased or dissolved organization may have intended; or • To reward the person who discovered the property.