Legal Definitions - portion

Portion

In legal terms, a "portion" refers to a specific share, segment, or allocated part of a larger whole. This term is often used when something, such as assets, funds, or responsibilities, is being divided, distributed, or assigned among multiple individuals or entities. It signifies a designated entitlement or a division of a greater whole.

• Example 1: A will specifies that a deceased person's art collection, valued at a significant amount, should be divided among their three children. The will states that each child is to receive an equal share of the collection's total value.

  Explanation: Each child's equal share of the art collection's value represents their "portion" of the overall inheritance from that specific asset.

• Example 2: A group of investors jointly purchases a large commercial property. Their agreement outlines that each investor will own a specific percentage of the property and be entitled to a corresponding percentage of any rental income generated.

  Explanation: Each investor's percentage of ownership and their corresponding share of the rental income are their "portion" of the jointly held property and its profits.

• Example 3: In a divorce settlement, a couple agrees to divide their marital assets. The court orders that the wife will receive a specific percentage of the husband's retirement savings, and the husband will receive a specific percentage of the equity from their jointly owned home.

  Explanation: The percentage of retirement savings awarded to the wife is her "portion" of that asset, and the percentage of home equity awarded to the husband is his "portion" of that asset, as determined by the settlement.