Turnovers
/ˈtɜrnˌoʊvərz/
Definitions
- (n.) The transfer of property, rights, or assets from one party to another, often under contract or legal obligation.
The turnovers of the estate to the heirs were completed after probate.
- (n.) In corporate law, the total amount of assets or revenue cycled through a business in a given period.
The company's annual turnovers were audited for compliance with tax laws.
Forms
- turnover
Related terms
See also
Commentary
In legal contexts, 'turnover' frequently refers to the act or process of transferring property or assets, and 'turnovers' is simply its plural form. Avoid confusing with accounting 'turnover' meaning sales volume unless contextually specified.
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.