Interpleader
/ˈɪntərˌpliːdər/
Definitions
- (n.) A legal procedure allowing a party holding property disputed by others to initiate a lawsuit to compel the claimants to resolve their claims among themselves.
The bank filed an interpleader action to determine the rightful owner of the disputed funds.
Forms
- interpleaders
Related terms
See also
Commentary
Interpleader is often used to avoid multiple liabilities and protect the stakeholder from multiple claims.
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.