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Simple English definitions for legal terms

deductis debitis

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A quick definition of deductis debitis:

Term: deductis debitis

Definition: Deductis debitis is a Latin term that means "the debts being deducted." In history, before determining the value of an estate, all debts had to be subtracted from the total amount. This was necessary to accurately assess the true value of the estate.

A more thorough explanation:

deductis debitis

When calculating an estate, deductis debitis means that any debts owed by the estate are subtracted from the total value before determining what is left over.

For example, if someone passes away and their estate is worth $100,000 but they owe $20,000 in debts, deductis debitis would mean that the debts are subtracted from the total value, leaving $80,000 as the remaining value of the estate.

Another example would be if a business is being sold and it has outstanding debts. The debts would need to be deducted from the sale price to determine the actual profit made from the sale.

These examples illustrate how deductis debitis is used to ensure that debts are taken into account when determining the true value of an estate or business.

deduction in respect of a decedent | de ea re ita censuere

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join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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