1) in real estate, the increase of the actual land on a stream, lake or sea by the action of water which deposits soil upon the shoreline. Accretion is Mother Nature's little gift to a landowner. Compare to avulsion and alluvion.
2) In estates, when a beneficiary of the person who died gets more of the estate than he/she was meant to because another beneficiary or heir dies or rejects the gift. Example: if a brother and sister were supposed to divide a share of Dad's estate, but brother doesn't want it, then sister's share grows by accretion.
3) In trusts, accretion occurs when a beneficiary gets a surprising increase in benefits due to an unexpected event.
Definition from Nolo’s Plain-English Law Dictionary
An out-of-the-ordinary increase in property that goes to the property owner. In real estate, accretion is an increase in land that results from the deposit of soil by a river or ocean. Accretion also occurs when someone who inherits assets receives more than expected because another beneficiary dies or doesn't accept a share, or when trust assets increase due to some unexpected and unusual event. (See also: alluviation
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:10 pm