A surrejoinder is a legal response by the plaintiff to the rejoinder (the defendant’s reply to the plaintiff’s original response to the defendant’s answer), in the pretrial phase of a civil lawsuit. The surrejoinder gives the plaintiff a...
property law
surviving spouse's trust
Surviving spouse’s trust refers to the trust controlled by the living spouse in an AB trust scheme. In an AB trust, a couple plans to split their assets into two trusts to limit the estate taxes incurred by their property before being given...
survivor
A survivor refers to a person who remains alive or continues to function after experiencing an event that could have been life-threatening or significantly harmful. In a legal or financial context, a survivor is also someone who lives after...
survivorship
See: Right of survivorship
[Last updated in October of 2021 by the Wex Definitions Team]
sweat equity
Sweat equity is an ownership interest that a person gains from contributing labor instead of capital. The term is often used in the context of partners who have equity in a partnership earned not from a capital contribution, but rather from...
take
Take means to gain or obtain possession. Some common uses of the term “take” in a legal sense include:
In the context of property, it means getting the title to real property. In the context of criminal law, stealing is an unlawful...takers in default
In the context of a power of appointment, the takers in default are the individuals who take if the power is not properly exercised. These individuals, or the class of individuals are usually named in the “takers in default clause.”
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taking
The power of the government through the use of eminent domain, to take private property and convert it into public use, is referred to as a taking. The Fifth Amendment provides that the government may only exercise this power if they provide...
takings
Overview
A taking is when the government seizes private property for public use.
A taking can come in two forms. The taking may be physical, which means that the government literally takes the property from its owner). Or the taking may be...
tangible personal property
Tangible personal property is mainly a tax term which is used to describe personal property that can be felt or touched, and can be physically relocated. For example: cars, furniture, jewelry, household goods and appliances, business...