9:54
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
Warning
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Warning
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LSDefine
Simple English definitions for legal terms
land scrip
Read a random definition: construction financing
A quick definition of land scrip:
Land Scrip: A special paper that allows a person or company to own a certain amount of public land. It is usually given to those who provide public services.
A more thorough explanation:
LAND SCRIP
Land scrip is a type of negotiable instrument that gives the holder, typically a person or company involved in public service, the right to own specific areas of public land.
- A railroad company may receive land scrip from the government as a reward for building a new railway line. This land scrip would entitle the company to claim a certain amount of public land along the route of the railway.
- A homesteader may receive land scrip as a form of payment for their work on public land. This land scrip would allow them to claim a specific area of land as their own.
These examples illustrate how land scrip can be used to transfer ownership of public land to private individuals or companies. It was often used as a way to incentivize development and settlement of new areas.