By Hayder Shkara -
Snapshot
- Think of bona vacantia as legalese for ‘forgotten treasures’. It is the term of art for property that has no rightful owner and ends up with the Crown by default.
- Maybe someone passed away without a will or a business shut down but still held assets—either way, this stuff doesn’t just vanish and it sure doesn’t sit idle.
- If you’re dealing with this kind of situation or just curious about what happens when property goes unclaimed, this article walks through the risks and how to respond before the government steps in.
Bona vacantia is a Latin phrase meaning ‘vacant goods’. In Australian law, it refers to property that has no legal owner and is therefore automatically passed to the Crown. This can happen when someone passes away without a will or any identifiable next of kin. It can also occur when businesses become deregistered but still hold assets.
Put simply, bona vacantia happens when no person or entity can legally claim property. This property is not legally allowed to remain unclaimed, so it is passed to the state. In most Australian states and territories, the responsible body that handles bona vacantia is either the state treasury, the public trustee or a similar government office.
