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Simple English definitions for legal terms

Statute of Accumulations

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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.

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Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
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im addicted to reacting to all of the decisions
triplethread
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with the emojis
HopefullyInLawSchool
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I shop at Joe
HopefullyInLawSchool
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Joe's
glovediedthisishismom
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i shop at tawget
glovediedthisishismom
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im dawk gawthic maga
triplethread
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i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
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bodyadaya
13:53
let it rock
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