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Simple English definitions for legal terms
enterpleder
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A quick definition of enterpleder:
Term: ENTERPLEDER
Definition: Enterpleder is an old-fashioned word that means the same thing as interpleader. Interpleader is a legal case where someone who has something that two or more people claim ownership of can ask a court to decide who really owns it. This person is called a stakeholder. The stakeholder doesn't want to give the thing to the wrong person and get in trouble, so they ask the court to help them figure out who the rightful owner is. This way, they can avoid getting in trouble with anyone.
A more thorough explanation:
Definition: Enterpleder is an archaic term that refers to interpleader, which is a legal process used to determine the rightful owner of property held by a third party who is unsure about ownership. The third party, called a stakeholder, deposits the property with the court to allow interested parties to litigate ownership. This process helps the stakeholder avoid multiple liability and determine who should receive the property.
Example: A bank holds a sum of money that two individuals claim to be theirs. The bank is unsure about who the rightful owner is and initiates an interpleader to deposit the money with the court. The two individuals then litigate ownership to determine who should receive the money.
This example illustrates how interpleader can be used to resolve disputes over property ownership when a third party is unsure about who the rightful owner is.