Many pieces of real estate property remain unclaimed in Israel. Several of these belonged to Europeans and date back to the Second World War. Those people wished to contribute to the creation of a state for Jews, or expected to live in that state. They not only invested in Israeli real estate, but they also deposited funds in Palestine-based banks.
For your information, the United Kingdom military occupied and controlled Palestine in the Second World War. The start of the war resulted in many of those Jew investors failing to go away from their native nations situated in Europe. The UK government seized the things that belonged to those Jews in the period of the war. When World War II ended in the late 1940s, the government gave the assets to Israel.
Assets given away to a nation’s government are described with the word’abandoned’. The same goes true in Israel as well. Many of the Israeli assets are still in an abandoned state. This means many individuals are yet to come forward with pieces of evidence that they have the legal rights to the assets. Therefore, these are also referred to as ‘unclaimed assets in Israel’.
How Do The Assets Remain Abandoned Even Today?
Many people do not know that their ancestors once owned parcels of land and other forms of property in Israel, which they could inherit. This causes the assets to be in an unclaimed condition. Part of the reason for the heir’s lack of awareness is that their family member did not tell them that they are entitled to Israeli property. Anyhow, this is not the only reason why property stays abandoned in the nation. Many knew that they were heirs, but Israeli banks just stonewalled their efforts to get back what should rightfully be their property.
Speaking of unclaimed property in Israel, real estate is not the only form of this asset. Even the rights to works of art, stocks, bonds, and money deposited in Israeli banks have not yet been claimed. Unfortunately, there have been situations where some pretended to be heirs and claimed real estate property that did not rightfully belong to them. This happens mostly because of people’s lack of knowledge that they are the actual heirs to Israeli property. If you have tried locating unclaimed real estate in Israel, you might have come across the aforementioned situation.