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LSDefine

Simple English definitions for legal terms

taker

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A quick definition of taker:

A taker is someone who receives property or assets through a will, power of appointment, or intestate succession. This means that if someone passes away and leaves behind property or assets, the taker is the person who inherits them. There are different types of takers, such as the first taker who receives an estate subject to a remainder or executory devise, the presumptive taker who would receive the property if the takers were to be finally ascertained at the present moment, and the taker in default who receives property not effectively appointed.

A more thorough explanation:

A taker is a person who receives property through a will, power of appointment, or intestate succession. There are different types of takers:

  • First taker: A person who receives an estate that is subject to a remainder or executory devise.
  • Presumptive taker: A person who would take under the applicable provisions if the takers were to be finally ascertained at the present moment.
  • Taker in default: A person who will receive property not effectively appointed; especially, a person designated by a donor to receive property under a power of appointment if the donee fails to exercise that power.

An example of a taker is a person who inherits a house from their deceased relative's will. Another example is a person who receives a gift from a donor under a power of appointment because the donee failed to exercise that power.

For instance, if a person's grandfather leaves them a house in his will, that person is a taker of the property. Similarly, if a donor designates a person to receive property under a power of appointment, and the donee fails to exercise that power, the designated person becomes a taker in default.

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JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
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