Warning
Info
Warning
Info
Simple English definitions for legal terms
cy pres
Read a random definition: Qualified indorsement (endorsement)
A quick definition of cy pres:
Term: Cy Pres
Definition: Cy pres is a legal term that means "as near as possible." It is used when a person donates money to a charity, but the charity cannot use the money for its original purpose. In this case, a court can use cy pres to reform the donation so that it can still be used for a similar purpose that the donor intended. Cy pres can also be used to distribute unclaimed money from a lawsuit to a charity that will help the people involved in the lawsuit. Another use of cy pres is to change a will or other legal document to avoid breaking the rule against perpetuities, which limits how long a person can control property after they die.
A more thorough explanation:
Cy pres is a legal term that means "as near as." It is an equitable doctrine used by courts to reform a written instrument with a gift to charity as closely to the donor's intention as possible, so that the gift does not fail. This is done when the donor's original charitable purpose cannot be fulfilled.
For example, if a donor leaves money to a charity that no longer exists, the court may use cy pres to distribute the money to a similar charity that will advance the interests of the donor. Another example is when unclaimed portions of a class-action judgment or settlement funds are distributed to a charity that will benefit the class.
Cy pres can also refer to a statutory provision that allows a court to reform a will, deed, or other instrument to avoid violating the rule against perpetuities. The rule against perpetuities is a common-law rule that prohibits a grant of an estate unless the interest must vest, if at all, no later than 21 years after the death of some person alive when the interest was created.
For example, if a donor leaves property to their great-great-grandchildren, the court may use cy pres to reform the will so that the property is distributed to the donor's living relatives instead. This is done to avoid violating the rule against perpetuities.