Distribution of Assets
/dɪˌstrɪbjuˈʃən əv ˈæsɛts/
Definitions
- (n.) The legal process of allocating a decedent's or entity's property among entitled parties.
The court approved the distribution of assets to the heirs according to the will.
- (n.) The transfer of property or assets from a corporation to its shareholders upon dissolution or liquidation.
The distribution of assets occurred after the company was formally dissolved.
Forms
- distribution of assets
Related terms
See also
Commentary
Usually involves compliance with statutory rules or the terms of a governing instrument to ensure proper entitlement and priority among claimants.
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.