____________ is the income of the Government, Which arises out of the property left by the people without a legal heir.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Escheat.
Escheat is a legal principle where property reverts to the government if an individual dies without a legal heir or a valid will. When someone passes away without a direct heir (such as a child, spouse, or other relatives recognized by law) and without leaving a valid will, their property is considered "ownerless." In such cases, the government steps in to claim the property through the process of escheat.
This ensures that property does not remain unclaimed or fall into a state of legal limbo. The process helps in maintaining a legal framework around the inheritance of property and ensures that it doesn’t get lost or abandoned. Escheat laws are prevalent in many countries, including India, and serve as a mechanism to transfer ownership of unclaimed estates to the state, which may then utilize or redistribute the property in accordance with the law.