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LSDefine

Simple English definitions for legal terms

strip

Read a random definition: bailout stock

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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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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