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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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22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
Dkk
9:49
Lmfao, Gross
Dkk
9:49
@glovediedthisishismom: Watch it at the office!
Dkk
9:50
Proton vpn and https://en.solarmovie-official.lol/
let little glovey go home!
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