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Simple English definitions for legal terms
interplead
Read a random definition: wash sale
A quick definition of interplead:
Interplead: When someone thinks they own something that is already being argued about in court, they can tell the court that they also have a claim to it. If someone is holding onto something that two or more people are fighting over, that person can ask the court to decide who should get it by putting the thing in the court's possession until the decision is made. This is called interpleading. It is different from impleading, which is when someone brings a new claim to court.
A more thorough explanation:
Definition: To assert one's own claim regarding property or an issue already before the court. It can also mean to deposit disputed property into the court's registry to abide the court's decision about who is entitled to the property.
Example 1: John and Jane both claim ownership of a piece of land. John decides to interplead and bring the issue before the court to determine who is the rightful owner.
Example 2: A bank holds funds that are being disputed by two individuals. The bank decides to interplead and deposit the funds into the court's registry to let the court decide who is entitled to the money.
Both examples illustrate the act of interpleading, which is when someone brings a dispute over property or an issue before the court to determine who has the rightful claim. It is often used when there are multiple claimants to the same property or funds, and the court must decide who is entitled to them.