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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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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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