What happens to the money in their bank account? Does the bank get notified of the death?
If your car is randomly parked somewhere away from your house when you die, what would happen to it?
In: 8
This applies to the U.S. I can’t speak to any other country.
Very few people have absolutely *no* family whatsoever. Even a distance cousin can inherit if there is no one closer. If there really is no one, or no one can be immediately identified, the property of the deceased becomes the property of the state. If a relative is found within a certain amount of time, usually 5 years, they can take possession of the decedent’s property. If not, the state gets that property permanently do with as they please.
Assuming the person who dies is identified, their bank can be notified and any money in the account becomes part of their estate. If their car is parked in a random spot, eventually it will most likely get towed. If it can be traced to the decedent, it will become part of their estate. If not, it will be handled like any other abandoned or unclaimed vehicle, which means sold if it’s worth anything, or if not, scrapped.
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