Third Interest
/ˈθɜrd ˈɪntrɪst/
Definitions
- (n.) A legally recognized claim or stake in property or a transaction held by a party third to the principal parties.
The third interest holder must be notified before the property is sold.
- (n.) A party having rights or obligations in a trust or contract distinct from the primary parties involved.
The trust document specified the rights of a third interest in distribution.
Related terms
See also
Commentary
Third interest typically arises in contexts involving disputes or agreements affecting parties beyond the primary actors, especially in property, contract, and trust law.
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.