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Simple English definitions for legal terms

Statute of Accumulations

Read a random definition: OG

A quick definition of Statute of Accumulations:

The Statute of Accumulations was a law that said people couldn't keep adding more and more property to a deed or will forever. After a certain amount of time, they had to stop adding to it. This law was made in 1800.

A more thorough explanation:

The Statute of Accumulations is a historical law that prohibited the accumulation of property beyond a certain period, which was settled by a deed or will. This law was enacted in 1800 under the 39 & 40 Geo. 3, ch. 98.

For example, if a person left a will that stated their property should be held in trust for their children until they reach the age of 25, the Statute of Accumulations would limit the accumulation of income from that property to 21 years. After 21 years, any income that had not been distributed would be forfeited to the Crown.

Another example would be if a person settled a trust that would accumulate income for a period of 50 years. The Statute of Accumulations would limit the accumulation of income to 21 years, and any income that had not been distributed after that time would be forfeited to the Crown.

These examples illustrate how the Statute of Accumulations was designed to prevent the hoarding of wealth and ensure that property was distributed fairly among beneficiaries. It also ensured that the Crown received its fair share of income from accumulated property.

statute mile | Statute of Allegiance de Facto

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BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
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?
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