15:30
fucking seriously dude we're readinf 1l of a ride
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Simple English definitions for legal terms
purchase, words of
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A quick definition of purchase, words of:
Words of purchase refer to the language used in a legal document, such as a deed or will, that specifies who will receive the property being transferred. For example, if a deed says "to A for life with a remainder to her heirs," it means that A has a right to use the property during her lifetime, and after she dies, the property will go to her heirs. These words are important because they determine who has legal ownership of the property.
A more thorough explanation:
Definition: Words of purchase refer to the language used in a legal document, such as a deed or will, that specifies who will receive the property or assets being transferred. For example, if a deed states "to A for life with a remainder to her heirs," it means that A has a life estate in the property and after her death, the property will pass to her heirs.
Examples:
- A father writes a will leaving his house "to my daughter, Sarah, and her heirs." This is an example of words of purchase because it specifies who will receive the property (Sarah and her heirs).
- A couple purchases a piece of land and the deed states "to John and Jane as joint tenants with right of survivorship." This is an example of words of purchase because it specifies who will own the property (John and Jane) and how they will own it (as joint tenants with right of survivorship).
These examples illustrate how words of purchase are used to clearly identify who will receive the property or assets being transferred in a legal document. This language is important because it helps prevent confusion or disputes over ownership rights.