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Simple English definitions for legal terms
interplea
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A quick definition of interplea:
Interplea is a legal term that refers to a situation where a person or organization holds property that is being disputed by two or more parties. The holder of the property, called a stakeholder, can file a pleading called an interpleader, which asks the court to determine who has the right to the property. The stakeholder deposits the property with the court to allow the interested parties to litigate ownership. This helps the stakeholder avoid multiple liability and ensures that the property goes to the rightful owner. Interpleader is a form of joinder that allows the claimants to determine which, if any, has a valid claim to the property.
A more thorough explanation:
Definition: Interplea is a legal term that refers to a pleading made by a stakeholder who is uncertain about the ownership of disputed property. The stakeholder places the property in the court's registry, and the interplea is used to initiate an interpleader, which is a lawsuit to determine the rightful owner of the property.
For example, if a bank is holding funds that are claimed by two different parties, the bank may file an interplea to deposit the funds with the court and let the parties litigate ownership.
Explanation: Interplea is a legal mechanism used to resolve disputes over property ownership. It allows a stakeholder to avoid multiple liability and determine who should receive the property. The interplea is a formal pleading that initiates an interpleader lawsuit, which is a way for interested parties to litigate ownership of the property in question.