Meditations and Learnings

Meditations and Learnings

Escheat

This is when the state claims ownership of apparently lost or forgotten property. A person can reclaim the property and the policy was conceived with good intentions. However, with the ability of the state to claim something like stocks and sell them if they appear unattended to (as any good purchaser of stocks should practice) it can actually be a way in which the state cheat a citizen out of money. The state is also incentivised to make the reclaiming of property difficult because “abandoned” money effectively functions as an interest-free loan.