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LSDefine

Simple English definitions for legal terms

strip

Read a random definition: Supplemental Register

A quick definition of strip:

Term: STRIP

Definition: STRIP refers to the process of separating and selling a bond's coupons and corpus separately. This means that the interest payments and the principal amount of the bond are sold as two separate securities. It is also used to describe the act of a tenant who unlawfully takes something from the land they are renting.

A more thorough explanation:

Definition: STRIP refers to two different things:

  1. The act of separating and selling a bond's coupons and corpus separately.
  2. The act of a tenant who, holding less than the entire fee in land, spoils or unlawfully takes something from the land.

Example 1: When a bond is issued, it comes with regular interest payments (coupons) and a final payment of the principal amount at maturity. However, investors can choose to separate these two components and sell them separately. This process is called STRIP or Separate Trading of Registered Interest and Principal of Securities.

Example 2: Let's say a tenant rents a house but only has access to the backyard. If the tenant goes into the front yard without permission and takes flowers from the garden, that would be an example of STRIP in the context of landlord-tenant law.

Both examples illustrate the concept of STRIP, which involves separating something into its component parts and dealing with them separately. In the case of bonds, investors can separate the interest payments from the principal amount and trade them separately. In the case of landlord-tenant law, a tenant with limited access to land takes something that they are not entitled to, separating it from the rest of the property.

string of title | stripped mortgage-backed security

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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