Final answer:
Escheat is the legal process that allows a state to claim ownership of property when there are no legal heirs or claimants. It ensures that properties always have a recognized owner and is separate from concepts such as property taxes and eminent domain.The correct option is d.
Step-by-step explanation:
Escheat is the process by which ownership of real estate reverts to the state when there are no legal heirs or claimants to the property. When a person dies without a will and without any known family to inherit the property, or when a corporation is dissolved without proper disposition of its real estate, the property in question may escheat to the state. In such cases, the state takes control to ensure that the property is not left ownerless.
This concept is different from property taxes, which are based on the value of real estate held by individuals or corporations and are used by local governments to raise revenue. It also differs from eminent domain, which is the power of the government to take private property for public use with just compensation. The principle behind escheat ensures that property always has a recognized owner, which in the absence of private individuals or entities, would be the government.