Legal Definitions - perpars

Perpars

Perpars is a legal term derived from Latin, meaning "by parts" or "in shares." It refers to the division or allocation of a whole into distinct, individual portions among multiple parties. This concept is often applied when property, assets, or responsibilities are to be distributed, ensuring that each party receives a specific, defined share.

Here are some examples:

• Estate Division: When a person passes away without a will, and their estate includes a large piece of land, a court might order the land to be divided perpars among the legal heirs. For instance, if there are three children, the court could physically divide the land into three separate parcels, with each child receiving ownership of one distinct parcel as their share. This illustrates the division of a single asset into individual, separate parts for each beneficiary.
• Business Partnership Dissolution: Imagine two partners who own a small manufacturing business decide to dissolve their partnership. They might agree to divide the company's assets—such as machinery, inventory, and intellectual property—perpars, meaning each partner takes specific, agreed-upon portions of these assets as their individual share in the dissolution. This demonstrates the allocation of business assets into distinct shares for each partner.
• Co-owned Property Partition: If several individuals jointly own a vacation home and can no longer agree on its use or management, one owner might initiate a legal action to partition the property. A court could then order the property to be sold, and the proceeds divided perpars among the co-owners according to their ownership stakes, or in rare cases, physically divide the property if it's feasible and equitable. This shows how a jointly owned asset is broken down into individual shares, either as physical portions or monetary distributions.