Legal Definitions - allottee

An allottee is an individual or entity that receives a specific share, portion, or assignment of something that has been formally distributed or designated. This term is often used when a limited resource, opportunity, or asset is divided among multiple recipients.

• Example 1: Company Shares

  When a new company, "TechSolutions Inc.," conducts an initial public offering (IPO), it might set aside a specific number of shares for its employees and early investors before making them available to the general public. These employees and investors, upon receiving their designated shares, become the allottees of those shares.

  Explanation: The employees and investors are the recipients of a specific, pre-assigned portion (the shares) from the company's total offering.

• Example 2: Affordable Housing Units

  A municipal government launches a new affordable housing project with a limited number of units. After reviewing applications, a lottery system is used to assign these units to eligible families. Each family that is successfully assigned a housing unit through this process becomes an allottee of that unit.

  Explanation: The families are the recipients of a specific housing unit that has been formally assigned to them from the available supply.

• Example 3: Government Land Grants

  In a program designed to encourage agricultural development, a national government decides to distribute parcels of undeveloped public land to qualified farmers. Each farmer who successfully applies and is granted a specific plot of land becomes an allottee of that land parcel.

  Explanation: The farmers are the recipients of a particular section of land that has been officially designated and given to them by the government.