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Simple English definitions for legal terms
cant
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A quick definition of cant:
Term: CANT
Definition: Cant is a way of dividing property that is owned by many people. The property is given to the person who offers the highest amount of money, but they must also buy out the other owners' shares. This is also called licitation.
A more thorough explanation:
CANT
Cant is a legal term used in civil law to describe a method of dividing property that is commonly held by awarding it to the highest-bidding owner. However, the successful bidder must buy out each co-owner's interest.
For example, if a group of siblings inherits a property from their parents, but they cannot agree on how to divide it, they may use the cant method. Each sibling would have the opportunity to bid on the property, and the highest bidder would be awarded the property. However, the successful bidder would have to buy out the interests of the other siblings.
Another example would be if a group of friends purchased a vacation home together, but one friend wanted to sell their share. The cant method could be used to determine the value of the friend's share and allow the other friends to bid on it. The highest bidder would then become the sole owner of that share.
The examples illustrate how the cant method can be used to divide property fairly among co-owners. It ensures that the highest bidder is awarded the property, but also requires them to compensate the other co-owners for their share. This method can be useful in situations where co-owners cannot agree on how to divide the property or when one co-owner wants to sell their share.