Equitable Distribution - Law Dictionary Search Results
Home Dictionary Name: equitable distribution Page 1 of about 20 results ( seconds)Equitable distribution
Equitable distribution, in Jowitt's Dictionary of English Law, where 'equitable' has been stated to mean 'that which is fair', and to Corpus Juris Secundum to show that equitable is that which is done 'fairly, justly and impartially'. It cannot be doubted that only that distribution can be said to be 'equitable' which is 'just and right under all the circumstances of the particular case', State of U.P. v. Hindustan Aluminium Corpn., (1979) 3 SCC 229: AIOR 1979 SC 1459: (1979) 3 SCR 709....
equitable distribution
equitable distribution : the distribution of marital assets by a court in a divorce action in accordance with statutory guidelines that are designed to produce a fair but not necessarily equal division of the property ...
asset
asset [back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French asetz, from Old French asez enough] 1 : the entire property of a person, business organization, or estate that is subject to the payment of debts used in pl. compare equity 2 : an item of property owned admitted asset : an asset allowed by law to be included in determining the financial condition of an insurance company compare nonadmitted asset in this entry appointive asset : an asset in an estate that is to be distributed under a power of appointment capital asset : a tangible or intangible long-term asset esp. that is not regularly bought or sold as part of the owner's business ;specif : any asset classified as a capital asset by law (as section 1221 of the Internal Revenue Code) cur·rent asset : a short-term asset (as inventory, an account receivable, or a note) that can be quickly converted into cash equitable asset : an asset esp. in an estate that is sub...
Equitable
Possessing or exhibiting equity according to natural right or natural justice marked by a due consideration for what is fair unbiased or impartial just as an equitable decision an equitable distribution of an estate equitable men...
Socialism
A theory or system of social reform which contemplates a complete reconstruction of society with a more just and equitable distribution of property and labor In popular usage the term is often employed to indicate any lawless revolutionary social scheme See Communism Fourierism Saint Simonianism forms of socialism...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
conversion
conversion 1 a : the act of changing from one form or use to another b : the act of exchanging one kind of property for another ;esp : the act of exchanging preferred stocks or bonds for shares of common stock of the same company usually at a preset ratio or price and at a preset time equitable conversion : the constructive conversion of real property into personal property esp. as a result of a contract for sale of land or testamentary instructions to sell real estate and divide the proceeds NOTE: Equitable conversion is a legal fiction under which the seller of a real property becomes, upon the execution of a contract for the sale of the property, the owner of personal property in the form of legal title to the property that secures payment of the purchase price. The purchaser is deemed to be the holder of equitable title in and owner of the real property, having the rights and being subject to the liabilities that attend that status. In the case of a will in which a property ...
Equitableness
The quality of being equitable just or impartial as the equitableness of a judge a decision or distribution of property...
Implied trusts
Implied trusts. an implied trust is one which arises from an equitable construction put upon the facts, conduct, or situation of parties.Implied trusts have been distributed into two classes: (1) those depending upon the presumed intent of the parties, as where property is delivered by one to another to be handed over to a third person, the receiver holds it upon an implied trust in favour of such third person; (2) those not depending upon such intention, but arising by operation of law, in cases of fraud, or notice of an adverse equity.A trust of this kind arises wherever the estate is converted by the trustee from one species of property into another; for if the property, in its original form, were invested with a trust, the cestui que trust's interests cannot be affected by any change of that form: and whether the conversion be in pursuance or in breach of the trustee's duty is immaterial; for an abuse of trust cannot confer any right on the party abusing it, or on those who claim i...
Uses
Uses (History). A use is the intention or purpose, express or implied, upon which property is to be held. The Common Law treated the actual possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was conferred upon him by a formal and notorious ceremony, technically called livery of seisin, which was performed openly and in the presence of the people of the locality.It soon became evident that the simple rules of the Common Law were stumbling-blocks to the complicated wants of an enterprising people.Hence ingenuity was sharpened to hit upon a device which should set at nought the rigidity of existing law and formalities.A system was found by the monastic jurists upon a model furnished by the Civil Law, which, by a nice adaptation, evaded, without overturning, the Common Law. Two methods of transferring realty began to co-exist in this country-the ancient Common Law system, and the later invention, which is denomi...
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