Legal Definitions - solvit

Solvit is a Latin term meaning "he paid" or "paid." In legal contexts, it refers to the act of a person or entity having fulfilled a financial obligation or made a required payment. It signifies that a debt, sum due, or other monetary commitment has been settled or satisfied.

Here are some examples illustrating the application of "solvit":

• Historical Land Transactions: Imagine reviewing a very old property deed from the 19th century. The document might contain a clause stating that the buyer, Mr. Thompson, "solvit" the sum of five hundred dollars to the seller, Ms. Davis, for the purchase of a specific plot of land. This phrase confirms that Mr. Thompson paid Ms. Davis the agreed-upon purchase price, thereby fulfilling his financial obligation for the property at the time the deed was executed.

• Estate Administration Records: In the historical accounts of an estate, a will might direct the executor to pay a specific legacy (a gift of money) to a named beneficiary. A subsequent entry in the estate's financial ledger or a separate certificate might note that the legacy to "Beneficiary A solvit" on a particular date. This indicates that the executor paid the legacy to Beneficiary A, settling that specific financial instruction from the will and discharging the estate's obligation.

• Satisfied Debts or Judgments: Consider an ancient legal record detailing a loan agreement or a court judgment requiring one party to pay a sum to another. If the record later includes an endorsement or a separate certificate stating that the borrower's debt or the judgment amount was "solvit," it means the borrower or the judgment debtor paid back the loan or satisfied the judgment. This confirms that the financial obligation was fulfilled, and the debt or judgment is no longer outstanding.