Legal Definitions - in nubibus

in nubibus

This Latin phrase literally means "in the clouds." In a legal context, it describes something that is currently unassigned, not yet fully formed, or not yet vested in a specific person or entity, but is nevertheless under the protection of the law.

It signifies a state where a right, interest, or property is legally recognized and safeguarded, even though its ultimate beneficiary or concrete form may still be uncertain or contingent upon future events. The law holds it "in the clouds," protecting it until it can descend and be definitively assigned or realized.

• Example 1: Future Interests in a Will

  Imagine a will that states, "I leave my vacation home to my first grandchild who reaches the age of 25." If the testator (the person making the will) passes away and no grandchild has yet reached 25, or perhaps no grandchildren have even been born yet, the vacation home's ownership is considered in nubibus.

  How it illustrates the term: The legal framework of the will protects this future interest. The property is not yet owned by a specific individual, but the law ensures that when a grandchild meets the condition, the inheritance will be legally transferred to them, safeguarding the testator's intent in the interim.

• Example 2: Unallocated Shares in a Company

  A startup company might set aside a pool of shares for future employees as part of an incentive plan, but these shares have not yet been allocated to specific individuals. These unallocated shares are in nubibus.

  How it illustrates the term: The company's legal documents (like its articles of incorporation or a stock option plan) protect this pool of shares, ensuring they exist and are reserved for their intended purpose, even though no specific person currently owns them. They are legally recognized as existing but are awaiting future assignment.

• Example 3: Dedicated Public Land in a Development

  A real estate developer might legally dedicate a specific parcel of land within a new housing subdivision to be a future public park, even before any homes are built or residents move in. At this stage, the park's status as a public amenity is in nubibus.

  How it illustrates the term: The legal dedication protects the land's future use as a park for the community. While no one is currently using it as a park, and its full development might be years away, the law ensures that this land is set aside and protected for its intended public purpose, preventing it from being used for other private development.