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LSDefine

Simple English definitions for legal terms

purchase, words of

Read a random definition: irrevocable

A quick definition of purchase, words of:

Words of purchase refer to the language used in a legal document, such as a deed or will, that specifies who will receive the property being transferred. For example, if a deed says "to A for life with a remainder to her heirs," it means that A has a right to use the property during her lifetime, and after she dies, the property will go to her heirs. These words are important because they determine who has legal ownership of the property.

A more thorough explanation:

Definition: Words of purchase refer to the language used in a legal document, such as a deed or will, that specifies who will receive the property or assets being transferred. For example, if a deed states "to A for life with a remainder to her heirs," it means that A has a life estate in the property and after her death, the property will pass to her heirs.

Examples:

  • A father writes a will leaving his house "to my daughter, Sarah, and her heirs." This is an example of words of purchase because it specifies who will receive the property (Sarah and her heirs).
  • A couple purchases a piece of land and the deed states "to John and Jane as joint tenants with right of survivorship." This is an example of words of purchase because it specifies who will own the property (John and Jane) and how they will own it (as joint tenants with right of survivorship).

These examples illustrate how words of purchase are used to clearly identify who will receive the property or assets being transferred in a legal document. This language is important because it helps prevent confusion or disputes over ownership rights.

purchase | purchase accounting method

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RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
13:18
i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march
CheeseIsMyLoveLanguage
13:24
@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)
14:30
Sent an app to OSU in early december and have STILL not heard back
Give it 4 more weeks at least. Everyone in this chat needs to wait longer.
TrumpSucks
19:58
@steelrift99: Same for me at Arizona
TrumpSucks
20:00
It is frustrating when people are admitted who applied after you. But that’s just part of the game I guess
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