What's The Difference Between Escheated And Unclaimed Funds?

The distinction, if any, between escheated funds and unclaimed funds is a distinction without a difference, you might say. That is, if you have anything to say about it at all.

But a recent Florida appellate opinion held that "the distinction is the difference under the facts of this case." Choice Plus, LLC v. Dep't of Fin. Services, Bureau of Unclaimed Prop., 43 Fla. L. Weekly D791 (Fla. 1st DCA Apr. 17, 2018).

Do tell, Florida.

Decedent's Estate Escheats to Florida

Mrs. Inez Eleanor Rigley died intestate in St. Petersburg, Fla. in 2005. In 2007, the probate court ordered that with no known beneficiaries, the assets of Inez's estate shall escheat to the State of Florida. Under Section 732.107, Florida Statutes, the probate court ordered that Inez's real property was to be sold and the proceeds were to be paid to the Chief Financial Officer for deposit into the State School Fund.