Transferred Property (Noun)
Meaning
A possession whose ownership changes or lapses.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The estate was settled and the transferred property was distributed among the heirs according to the will.
- The charity auctioned off the transferred property, a grand piano, and used the funds to support local music education programs.
- As part of the business merger, several key assets from the acquired company were designated as transferred property.
- The historical mansion was donated to the city as transferred property, with the stipulation that it be used as a museum.
- The court ruled that the disputed parcel of land was transferred property, and its ownership reverted to the original deed holders.