Legal Definitions - Share

A share refers to a distinct, allocated portion of something larger, such as ownership, responsibility, profits, or assets. It represents an individual's or entity's specific entitlement or contribution within a collective whole.

• Example 1: Inheritance of an Estate

  When a person passes away and leaves behind an estate (assets like money, property, and investments), their will or the laws of intestacy (dying without a will) will often specify how the estate is to be divided among beneficiaries. For instance, a will might state that a deceased parent's three children will each receive an equal share of the estate.

  This illustrates "share" as a specific, defined portion of the total assets that each child is legally entitled to receive.

• Example 2: Joint Venture Profits

  Imagine two technology companies decide to collaborate on developing a new software application. They form a joint venture agreement that outlines their respective contributions and how they will divide any future earnings. The agreement might stipulate that Company A will receive a 60% share of the net profits, while Company B will receive a 40% share.

  Here, "share" defines the specific percentage of the total profits that each company is entitled to receive based on their agreed-upon arrangement.

• Example 3: Co-ownership of Real Estate

  Four friends decide to purchase a vacation home together. They contribute equally to the down payment and mortgage, and the property deed reflects that each friend owns a 25% share of the house.

  In this context, "share" signifies each friend's specific portion of ownership in the property, granting them corresponding rights and responsibilities related to its use, maintenance, and potential sale.