Bona Vacantia

This is where  assets have no owner because they are

• Assets of dissolved companies that have failed to be distributed
• Assets of dissolved unincorporated associations that have failed to be distributed
• Assets of the estates of deceased persons that have failed to be distributed due to intestacy and a lack of known persons entitled to inherit
• failed trust property

In England and Wales, the Bona Vacantia Division of the Treasury Solicitor's Department of the UK Government is responsible for dealing with Bona Vacantia assets except in the Duchy of Lancaster or the Duchy of Cornwall

We come across this most often with dissolved companies. The assets automatically pass to the Crown by law

The Crown has a power to disclaim onerous assets and will routinely disclaim land in adverse possession but not in every case.

Liabilities associated with assets do not automatically follow those assets into Bona Vacantia.