Legal Definitions - excambium

Excambium refers to an exchange, particularly in a legal or property context, where one item, right, or interest is given in return for another. It can also refer to something provided as an equivalent or compensation for a specific claim or entitlement.

Here are some examples illustrating the concept of excambium:

• Imagine two neighboring landowners, Mr. Henderson and Ms. Chen. Mr. Henderson owns a small, oddly shaped parcel that Ms. Chen needs to complete her new driveway, while Ms. Chen has a strip of land that would allow Mr. Henderson to expand his garden. Instead of buying and selling, they agree to formally transfer their respective desired portions of land to each other. This mutual transfer of property interests is an example of an excambium, as they are directly exchanging one piece of land for another without monetary transaction.

• Consider a situation where a local government needs to acquire a specific plot of private land to build a new public library. Instead of offering a monetary payment, the government proposes to give the landowner a different, equally valuable piece of city-owned property in a prime location, which the landowner accepts as full satisfaction for their original land. In this scenario, the alternative plot of land provided by the government serves as an excambium, acting as an equivalent or recompense for the property initially sought.