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LSDefine

Simple English definitions for legal terms

perfect equity

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A quick definition of perfect equity:

Equity means being fair and doing what is right. It is a set of rules that help make sure everyone is treated equally. Sometimes, the law doesn't cover everything, so equity is used to make sure people are treated fairly in those situations. It can also refer to the ownership someone has in a business or property. Perfect equity means having the right to something, but not having the official paperwork to prove it yet. Overall, equity is about being fair and just.

A more thorough explanation:

Perfect equity is a term used in law to describe a situation where a person or entity has a legal right or interest that is recognized by a court of equity. It refers to a situation where the only thing lacking for the right or interest to be recognized as a legal title is a formal conveyance or other investiture that would make it cognizable at law.

For example, if a person has paid the full amount due for a piece of real estate but has not yet received a deed, they have perfect equity in the property. This means that they have a legal right to the property, but they cannot yet claim ownership of it in a court of law because they do not have a formal title.

Another example of perfect equity is when a person has an ownership interest in a business. This means that they have a share in the company and are entitled to a portion of its profits, but they do not have a legal title to the business itself.

Overall, perfect equity refers to a situation where a person or entity has a legal right or interest that is recognized by a court of equity, but that right or interest is not yet recognized as a legal title because of a lack of formal conveyance or other investiture.

perfected security interest | perfect grant

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Dkk
19:42
Maybe, didnt happen last time.
19:42
it was hard to not improve it. google search was terrible due to the ads and seo cheaters with buzz words and alt text
Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
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