What is the meaning of Escheat?

The return of property of a deceased person to the state (originally to a feudal lord) where there are no legal heirs or claimants.

The property so reverted.

Plunder, booty.

That which falls to one; a reversion or return.

To put (land, property) in escheat; to confiscate.

To revert to a state or lord because its previous owner died without an heir.

Source: wiktionary.org