How Do You Spell STATUTORY SHARE?

Pronunciation: [stˈat͡ʃuːtəɹˌi ʃˈe͡ə] (IPA)

The term "statutory share" refers to the portion of an estate that is legally mandated to be given to a surviving spouse or child. The IPA phonetic transcription of "statutory share" is /ˈstætʃuˌtɔri ʃɛr/. The first syllable, "stat," is pronounced with a short "a" sound and the second syllable, "u," is pronounced with a schwa sound. The final syllable, "ry," is pronounced with a long "e" sound. The word "share" is pronounced with a hard "sh" sound and a short "a" sound followed by the "r" sound.

Meaning and Definition
Common Misspellings
Etymology
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STATUTORY SHARE Meaning and Definition

  1. Statutory share refers to a legal provision that grants specific rights to a particular individual or group of individuals in the distribution of an estate after the death of the deceased. It is a predetermined portion of the deceased person's estate that is protected by law and is typically guaranteed to certain heirs, even if the will specifies otherwise.

    The statutory share seeks to protect the immediate family members, such as spouses and children, from being completely disinherited or unfairly disadvantaged by the testator's wishes outlined in the will. It ensures that such heirs receive a minimum share of the estate, irrespective of the will's provisions.

    The exact percentages or fractions allocated as the statutory share vary by jurisdiction and are usually determined by specific laws or statutes. In general, these provisions aim to provide for the surviving spouse and children, allowing them to inherit a portion of the estate assets, regardless of the will's terms. The statutory share often considers the intricacies of family structures, marital status, and the number of dependents.

    If a will deviates from the statutory share, the affected heirs may challenge the will's validity through legal proceedings, typically by filing a claim against the estate. This ensures that individuals entitled to a statutory share are not unjustly excluded, overlooked, or forgotten by the deceased's last wishes.

Common Misspellings for STATUTORY SHARE

  • atatutory share
  • ztatutory share
  • xtatutory share
  • dtatutory share
  • etatutory share
  • wtatutory share
  • sratutory share
  • sfatutory share
  • sgatutory share
  • syatutory share
  • s6atutory share
  • s5atutory share
  • stztutory share
  • ststutory share
  • stwtutory share
  • stqtutory share
  • starutory share
  • stafutory share
  • stagutory share
  • stayutory share

Etymology of STATUTORY SHARE

The word "statutory share" does not have a specific etymology on its own. However, we can analyze its components to understand its meaning.

1. Statutory: The term "statutory" implies something that is based on or established by a statute or legislation. It refers to laws that have been officially written and enacted by a governing body, such as a parliament or congress.

2. Share: In this context, the word "share" typically refers to a portion or part of something that is divided among multiple individuals or entities. It can also indicate ownership or a stake in something.

Therefore, the term "statutory share" generally refers to a portion or share that is legally mandated or prescribed by law. It often denotes a specific entitlement or a minimum portion of an estate or property that is automatically granted to certain individuals, such as surviving spouses or children, as per legal provisions.