Decay

From ThresholdRPG Wiki

Whenever a corpse is created, if it isn't buried right away, it will slowly start to decay. This process takes some time, and consumes system resources. It's recommended that you either bury, or deal with the corpse object in some way, to avoid taking up those system resources.

If a corpse decays entirely while it contains loot, the loot will disappear with the corpse.