Disclosure of Assets
/dɪsˈkloʊʒər ʌv ˈæsɛts/
Definitions
- (n.) The legal obligation or process by which an individual or entity reveals financial holdings, property, or other assets, typically in legal, regulatory, or bankruptcy contexts.
The court mandated the full disclosure of assets before proceeding with the settlement.
Forms
- disclosure of assets
- disclosures of assets
Related terms
See also
Commentary
Disclosure of assets is crucial in ensuring transparency and fairness in litigation, divorce, insolvency, and regulatory compliance; precise scope and timing of disclosure should be clearly defined in legal documents.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.