Bona Vacantia: Legal Term for Unclaimed Property

Question:

In legal and property terms, what is the term used to describe a situation where an item or property is acquired or held without the involvement or claim of a previous owner?

A) Abandoned property

B) Lost property

C) Bona vacantia

D) Escheat property

Answer:

In legal and property terms, the situation where an item or property is acquired or held without the involvement or claim of a previous owner is referred to as:

C) Bona vacantia

Explanation:

Bona vacantia refers to property that has no owner and is unclaimed. It is typically property that has been abandoned or left without an identifiable owner, and it becomes the property of the state or a government entity. This term is often used in the context of property left behind after a person’s death without any heirs or claimants.

Abandoned property generally refers to property that has been intentionally given up or deserted by its owner but may still have potential claims by the original owner or their heirs.

Lost property is property that has been misplaced or accidentally left behind and typically still has a known owner who may seek its return.

Escheat property refers to property that reverts to the state when a person dies without a will or heirs to claim it.