bona vacantia


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bona vacantia

property to which no one has a claim; included within the term are the property of dissolved corporations and the residuary estate of persons who have died intestate without relatives entitled to succeed. Bona vacantia goes to the Crown. See OCCUPATION.

BONA VACANTIA. Goods to which no one claims a property, as, shipwrecks, treasure trove, &c.; vacant goods.

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The Treasury Solicitor, Jonathan Jones, will continue to act as the Crown s Nominee for the collection and disposal of bona vacantia and remains the Solicitor for the Affairs of Her Majesty s Treasury for this purpose.
Any specific connotation of `Treasure' as concealed items of precious metal is in practice subsumed within the concept of bona vacantia, or ownerless goods, which is the real heart of the matter.
31) Moreover, some form of process is required to dissolve a company in order to deal with its assets and liabilities; otherwise, the company's property passes to the Crown as bona vacantia and not to the members.
Large businesses seeking to tidy up their corporate and legal structures by dissolving a number of non-trading companies, and small business owners where it is unclear whether they, or their company, own a property, are particularly vulnerable to bona vacantia and can easily end up losing control of a property," says Ms Mort.
The website is named after the term Bona Vacantia, which literally means vacant goods and is the legal name for owner-less property that passes to the Crown.
His demise came to our attention when a Richard Smith Wilkinson appeared on the Treasury's Bona Vacantia website,'' he said.
New unclaimed estates are advertised by the Bona Vacantia Division of the Treasury Solicitor on their website.