What Is Bona Vacantia?

Unowned property refers to tangible, physical things which are capable of being reduced to being property owned by an individual but are not owned by anyone.

What happens to bona vacantia?

How a company asset becomes bona vacantia. Property, cash and any other assets owned by a company when it is dissolved automatically pass to the Crown. This is because the law says this happens. ... Liabilities of a company do not pass to the Crown on dissolution: they are normally extinguished.

How long does bona vacantia take?

It will take about 4 weeks for your claim to be processed. During this time, you may be contacted with further requests for information. The Treasury solicitor's office will examine your claim and verify the supporting evidence carefully before they accept it. It's important that your supporting documents are accurate.