The National Treasury Administration, Ministry of Finance, indicated that 39 uninherited properties had been escheated to the national treasury in fiscal year 2019 totaling NT $80,250,964, of which the largest property being more than NT $21,304,556 and the smallest property being NT $831. All such properties were put into the national treasury for use by the nation.
According to Article 1185 of the Civil Code, uninherited properties are handled in this manner: “Where no heir acknowledges the succession, on the expiration of the period provided in Article 1178, such part of the property of the deceased as remains over after the settlement of claims and the delivery of legacies accrues to the Treasury.”
Often uninherited properties are managed by a court-designated estate manager, such as a lawyer, a land administration agent, or an accountant. If there is any cash leftover, the estate manager is responsible for escheating the leftover to the national treasury. The National Treasury Administration, Ministry of Finance, wishes to express its affirmation and gratitude to those estate managers who, in the spirit of service, coordinated and managed the affairs about the estates and who managed to complete the escheat process.
To make it easier for estate managers to handle the escheat process, the National Treasury Administration, Ministry of Finance, has published relevant operating procedures on its website for use by interested parties.
Contact Information:Ms. Lee, Hsiu -Yu