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[kevin oleary]
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LSDefine
Simple English definitions for legal terms
entailment
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A quick definition of entailment:
Term: ENTAILMENT
Definition: Entailment is when someone sets up rules for how their property or land can be passed down to their family members. This means that the property or land can only be inherited by certain people in a specific order, and cannot be sold or given away freely. The property or land that is being passed down in this way is called an "entailed estate."
A more thorough explanation:
Definition: Entailment is the process of passing down an estate to a specific heir or heirs, usually through a legal document such as a will or trust. The estate that is passed down is called an "entailed estate."
Example: If a wealthy person wants to ensure that their property stays within their family for generations to come, they may choose to entail their estate to their children or grandchildren. This means that the property cannot be sold or transferred to anyone outside of the family, and must be passed down to the designated heirs.
Explanation: Entailment is a legal process that is often used to keep property within a family for a long period of time. It ensures that the property is passed down to specific heirs, and cannot be sold or transferred to anyone outside of the family. This can help to preserve family wealth and assets, and keep them within the family for generations to come.