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LSDefine

Simple English definitions for legal terms

equitable asset

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A quick definition of equitable asset:

An equitable asset is something that someone owns and has value, but can only be paid out through a court of equity. This means that it can only be distributed fairly and justly, according to the rules of the court. Examples of equitable assets might include things like intellectual property or certain types of investments.

A more thorough explanation:

An equitable asset is an item that has value and is subject to payment only in a court of equity. This means that the asset can only be claimed through a legal process, such as a lawsuit or court order.

For example, a person may have a claim to an equitable asset if they were wronged by another party and are seeking compensation. The asset in question may be property, money, or other valuable items that the court determines should be awarded to the injured party.

Another example of an equitable asset is a trust fund. The assets held in a trust are subject to the terms of the trust agreement and can only be distributed according to those terms. If a beneficiary of the trust believes they are entitled to more than what is being distributed, they may need to go to court to seek an equitable remedy.

equitable adoption | equitable assignment

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BulbasaurNoLikeCardio
12:10
*shouldnt be
12:12
@jackfrost11770: if i get a berk A today and they have that logo im withdrawing (/s /s /s /j /j /j)
babycat
12:12
@ChowieBean: me too lol. you applying to public interest scholars program?
12:14
yes def applying public interest
12:16
i was raised like blocks away from umiami
12:16
idk if i wanna go back to florida tho so im applying there as safety/target 💀
12:25
@ChowieBean: doing the same thing
Does anyone think au gonna get back to us today
My app was complete Oct 11
If yes what time
Dkk
12:29
Sure, yes! 11:22:24 PST
ClassyPleasantHeron
12:30
I wonder if Berk was updating their system so that they could watch more video.
1a2b3c4d26z
12:41
They updated it so they could watch my video one trillion times
brookyln law portal just added person id and application id for me, what does it mean??
Dkk
12:52
@VolatileClumsyAcolyte: well someone got an A so maybe an A
just checked the reddit, apparently it means nothing..
HAPPY FRIDAY HAPPY UCLA DAY
what time would they release cuz west coast
BulbasaurNoLikeCardio
12:54
I hate that Vanderbilts portal gives no status
HopefullyInLawSchool
12:54
@VolatileClumsyAcolyte: did you apply YM to Brooklyn?
JumpySubsequentDolphin
12:57
@SplitterusClitterus: THEY BETTER HAVE AN A WAVE TODAYYY
glovediedthisishismom
12:57
kendrick lamar
glovediedthisishismom
12:57
album
JumpySubsequentDolphin
12:57
I think usually they release at like 1ish?
JumpySubsequentDolphin
12:57
@glovediedthisishismom: GNXXXX
babycat
12:59
I heard if you apply YM at Brooklyn specifically it’s the equivalent of like a 5 LSAT point boost
HopefullyInLawSchool
13:00
^^^^This
13:00
does anyone have any information on lsu? I have only heard of 1 person getting a decision and its driving me insane
HopefullyInLawSchool
13:01
Just info on their YM applications but nothing else
HopefullyInLawSchool
13:02
@BeFree03:
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