Goa Escheats, Forfeitures and Bona Vacantia Act, 2024

Oct 14, 2024 | by TeamLease RegTech Legal Research Team

Free Legal updates for the week 00


Industry Specific Compliance

The Government of Goa on October 11, 2024, notified the Goa Escheats, Forfeitures and Bona Vacantia Act, 2024.

The following has been stated namely: -

• It shall extend to the whole of the State of Goa

• It applies to all properties, which have vested or have become vested or shall vest in the Government by escheat or lapse, or as bona vacantia, or which is forfeited or having become forfeited or shall forfeit in the Government under the provisions of this Act.

• If any person dies intestate and without leaving legal heirs according to his law, the property of such person shall automatically stand transferred to the Government, and the Government may cause possession or management or administration of such property to be taken over by escheat or lapse, or as bona vacantia for want of rightful owner, and on such finding of fact by the Competent Authority, the Government shall become the owner of the property without any further act or document.

• Any article found in a public place, the owner of which is not known, shall be taken charge of by any police officer who shall send them for disposal to the Competent Authority

• Any property lying in the State of Goa abandoned by its rightful owner shall belong to the Government

[Act No. 21 of 2024]

 


Bookmark

Related Updates



Alternate Text

Get updates on the go on RegUpdate Mobile App.

NEW  ·  AI ASSISTANT