‘Bona vacantia’ means vacant goods and is the name given to ownerless property which, by law, passes to the Crown.
Any property physically located (or deemed to be located) in the Isle of Man which is bona vacantia will vest in the Isle of Man Treasury (a Department of the Isle of Man Government) in trust for the Crown.
In the Isle of Man, property becomes bona vacantia in the following circumstances:
- it belongs to an estate of a person who died intestate (without a will) and without known kin (blood relatives listed in section 52 of the Administration of Estates Act 1990) or
- it belonged to a company which has been dissolved.
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