Practicing Success
Practicing Success
CUET Preparation Today
| A person dies without a will and no known heirs. The property of such person will be called as___________. |
Caveat Emptor Obiter Dicta Bona fide Bona vacantia |
| Bona vacantia |
| Bona Vacantia: Bona means ‘goods’ and vacantia means ‘unclaimed’ and hence the term bona vacantia means ‘unclaimed or ownerless goods’ or property without an apparent owner or claimant.. Explanation Bona vacantia refers to property that has been unclaimed for a period of time. In most cases, such property is held by the government and may be recovered by rightful owners or heirs. Bona vacantia property, which remains unclaimed after a certain period of time, reverts to government ownership. Examples of unclaimed funds include unclaimed back wages, life insurance funds, pension money, and tax refunds. |
