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LSDefine

Simple English definitions for legal terms

bénéfice d'inventaire

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A quick definition of bénéfice d'inventaire:

Term: BÉNÉFICE D'INVENTAIRE

Definition: The benefit of inventory is a legal term that refers to the right of an heir to accept or refuse an inheritance. If the value of the inheritance is less than the debts left by the deceased, the heir can choose to renounce the inheritance and avoid being responsible for the debts. However, if the value of the inheritance is greater than the debts, the heir can accept the inheritance and keep the excess value as a benefit of inventory.

A more thorough explanation:

Definition: Bénéfice d'inventaire is a French term that refers to the difference between the value of an estate's assets and liabilities at the time of the deceased's death. It is a legal concept that protects the heirs of an estate from being held responsible for any debts that exceed the value of the assets they inherit.

Example: Let's say that a person dies and leaves behind an estate worth $500,000. However, the deceased also had debts totaling $200,000. In this case, the beneficiaries of the estate would only be responsible for the remaining $300,000. This is because the benefit of inventory protects them from having to pay more than the value of the assets they inherit.

Explanation: The example illustrates how the benefit of inventory works in practice. It shows that the heirs of an estate are not responsible for any debts that exceed the value of the assets they inherit. This legal concept ensures that beneficiaries are not burdened with debts that they did not incur and protects them from financial liability.

bénéfice de division | beneficial

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HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
13:18
i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march
CheeseIsMyLoveLanguage
13:24
@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)
14:30
Sent an app to OSU in early december and have STILL not heard back
Give it 4 more weeks at least. Everyone in this chat needs to wait longer.
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