From Rise: The Vieneo Province
Your character refers to your in-game entity and is tied to an account on the server. The account has many attributes including physical appearance, D20 skills and abilities, location, and funds. Vehicles and land are tied to your character by reverse lookup.
Your character is created when you sign up for a free trial through the game client. This trial lasts for two (2) weeks and then the character is destroyed.
Signing up for a monthly subscription will keep your character in the universe for the duration of the subscription. If the subscription is cancelled either intentionally or by lack of payment the character is destroyed when the term of the subscription expires.
When a character is destoryed any funds are used to pay off any outstanding bank loans and then transferred to their alliance (if applicable, otherwise it goes to the state).
Vehicles wholly owned by the character (not appearing in the REVS list) would be abandoned and eligible for a salvage title which can be done at the Department of Revenue's vehicle registration office in Deois.
Land that was owned would now be “unclaimed” and available for purchase at the VLM. Any structures and colonists and storage of materials would still be there and the cost for the land is the land value alone, nothing added for structures, etc. The only time that comes into play is if you are selling from one player to another.