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LSDefine

Simple English definitions for legal terms

qualified ownership

Read a random definition: inter vivos gift

A quick definition of qualified ownership:

Qualified ownership is when someone owns something, but there are rules or limits on how they can use it or how long they can keep it. For example, they might have to share it with someone else, or they might only be allowed to use it for a certain amount of time. The opposite of qualified ownership is absolute ownership, where someone can do whatever they want with what they own.

A more thorough explanation:

Qualified ownership refers to a type of ownership that comes with certain restrictions or requirements. These restrictions can be related to time, the interests of a third party, or the usage or shares of the property.

For example, a person may own a piece of land, but the ownership may be qualified by a restriction that prevents them from building any structures on the land. Another example could be a joint tenancy, where multiple people own a property together, but their ownership is qualified by the requirement that they all have equal shares and cannot sell their share without the consent of the other owners.

Qualified ownership is different from absolute ownership, which is ownership without any restrictions or requirements.

Overall, qualified ownership means that while a person may own a property, they may not have complete control over it due to certain limitations or requirements.

qualified medical child support order (QMCSO) | qualified personal residence trust (QPRT)

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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