Escheat Definition

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GLOSSARY

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What does Escheat mean?

The return of land to the Crown by determination of the estate.

Escheat is the determination of an estate in land. On escheat, all interests in the land come to an end and the land becomes demesne land. In practice, escheated land is held by the Crown Estate. Unlike land that is bona vacantia, where the estate passes to the Crown, in escheated land the estate simply ceases to exist.

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Bona vacantia and company property

DissolutionIf a Companies Act company (ie a company regulated by the Companies Act 2006 or any of its predecessors) is dissolved, all its property as at the moment of dissolution (together with all rights vested in, or held on trust for, but excluding property held on trust for another), passes to the Crown as bona vacantia (ie ownerless goods) under CA 2006, s 1012(1), unless the company’s registered office is located within either the Duchy of Cornwall or the Duchy of Lancaster, in which case the bona vacantia passes to that Duchy — but note that freehold land lying within the area of the Duchy of Cornwall vests in the Duke of Cornwall on dissolution regardless of where the company’s registered office may have been situated).NOTE: The Duchy of Cornwall is held by the Duke of Cornwall under a charter of 1337 (which confers the dukedom on the eldest son of the monarch and heir to the throne): it extends to the entire county of Cornwall. The Duchy of Lancaster...

Establishing adverse possession of land

Establishing adverse possession of land This is one of four Practice Notes on adverse possession. The others are: • Claiming title by adverse possession under the Limitation Act 1980 or the Land Registration Act 1925 • Claiming title by adverse possession under the Land Registration Act 2002 • Adverse possession and leases Introduction Adverse possession of land is possession of land in circumstances which are inconsistent with the title of the true owner. The person in adverse possession (referred to in this Practice Note as ‘the squatter’) must prove factual possession (see Factual possession below) accompanied by an intention to possess (see Intention to possess below). The squatter’s adverse possession must be uninterrupted for the required period (see Required period of adverse possession below). Although the elements of factual possession and intention to possess are distinct, evidence in support of them may be found in a single act. For example, erecting a fence which excludes everyone but the squatter (see Uses of land which may amount to adverse possession...

Discover our 16 Practice Notes on Escheat

What is the position of a security holder if the company that created the security is dissolved?

What is the position of a security holder if the company that created the security is dissolved? This Q&A focuses on the impact the dissolution of a security provider can have on the ability of a security holder to effectively enforce its security. It also considers the position of a receiver appointed by the security holder prior to the dissolution of the relevant company. Summary If a security provider is dissolved as a matter of English law it is normally still possible for the security holder to enforce the security it holds by exercising the mortgagee’s power of sale. There may be circumstances in any particular case that make an application to restore the dissolved company to the register desirable to protect the security holder’s position. Circumstances where this issue commonly arises The problems associated with a security provider being dissolved while security is in force occur most often in real estate finance and other asset finance transactions. Typically, these issues arise where a special purpose...

Would an application for adverse possession be successful where the registered freeholder is a limited company which has dissolved? The property would have vested in the Crown as bona vacantia. The Crown have not disclaimed the property nor confirmed that they wish to agree to a sale

Would an application for adverse possession be successful where the registered freeholder is a limited company which has dissolved? The property would have vested in the Crown as bona vacantia. The Crown have not disclaimed the property nor confirmed that they wish to agree to a sale The property would have vested in the Crown as bona vacantia. The Crown have not disclaimed the property nor confirmed that they wish to agree to a sale. When a company is dissolved, under the section 1012 of the Companies Act 2006 (CA 2006) all property and rights whatsoever (other than property which it holds on trust for another) is deemed to be bona vacantia and accordingly belongs to the Crown, the Duchy of Lancaster or the Duke of Cornwall as the case may be. Under the CA 2006, s 1013 the Crown or relevant Duchy may, within 12 months, disclaim any property which has passed to it as bona vacantia following the dissolution of a company. Under the medieval doctrine of escheat,...

See the 25 Q&As about Escheat

SFO takes control of £34m properties in Uzbek graft scandal

Law360, London: A London judge said on 8 August 2023 that a £34m ($43m) property portfolio bought by the imprisoned daughter of Uzbekistan's former president using tainted money now belongs to the British government, under an arcane medieval doctrine.

Property weekly highlights—19 January 2023

This week's edition of Property weekly highlights includes: a Supreme Court case on the certification of service charge and cases on constructive trusts, the release of deposits in relation to off-plan sales and proprietary estoppel in the context of escheat, a look at the plans for retained EU law, a PLA survey on reform of the Landlord and Tenant Act 1954 and collated guidance on registering overseas entities.

Read the latest 31 News articles on Escheat

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