Escheat property,often collected by the state,is to be reported either in a private-purpose trust fund or in the fund to which the property ultimately escheats.

Question

Quizplus · Accepted Answer

Escheat property must be reported to the state and held in a private-purpose trust fund until a rightful owner claims it or until it ultimately escheats to the state. Therefore, the statement is true.

Escheat Property,often Collected by the State,is to Be Reported Either