INTERPLEADER Meaning and
Definition
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Interpleader refers to a legal process in which a neutral third party, typically a court, is involved in resolving a dispute between two or more parties who claim ownership or rights to a particular property. This occurs when one party holds property or funds that are claimed by two or more other parties, thereby creating a conflict. The interpleader action seeks to determine the rightful owner of the disputed property or funds and to protect the party who holds them from potential liability.
The interpleader process involves the interested parties submitting their claims to the court. The court then investigates the claims and determines the true owner of the property or funds. The court's decision is legally binding and resolves the dispute, preventing conflicting judgments or multiple lawsuits from being filed.
Interpleader is typically used in situations where a stakeholder, such as a financial institution or trustee, is uncertain about the rightful owner of the property they possess. By initiating an interpleader action, the stakeholder can deposit the disputed property with the court and seek guidance on how to distribute it appropriately.
Overall, interpleader serves as a valuable legal procedure to resolve conflicting claims to property or funds efficiently and fairly, providing protection to stakeholders while ensuring the rightful ownership is established.
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The discussion of an incidental point.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for INTERPLEADER
- unterpleader
- jnterpleader
- knterpleader
- onterpleader
- 9nterpleader
- 8nterpleader
- ibterpleader
- imterpleader
- ijterpleader
- ihterpleader
- inrerpleader
- inferpleader
- ingerpleader
- inyerpleader
- in6erpleader
- in5erpleader
- intwrpleader
- intsrpleader
- intdrpleader
- interpleder
- intterpleader
- Inturpleader
- Interpleeder
- Interluader
Etymology of INTERPLEADER
The word "Interpleader" has its etymology rooted in Old French and Latin.
The term can be traced back to the Old French word "entrepristre", which is derived from the Latin phrase "in" meaning "between" and "trepalium" meaning "a device or instrument of torture". In medieval times, "trepalium" referred to a three-beamed instrument of torture used to force confessions from suspects.
Over time, "entrepristre" evolved into "interpleder" in English, with the prefix "inter-" indicating "between" and "pleder" coming from the Old English word "plēdan" meaning "to plead". An interpleader action originally referred to a legal procedure where a third party could petition the court to resolve a dispute between two other parties. The term has since been adopted into legal terminology to describe a specific type of lawsuit or proceeding.
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