Business, Legal & Accounting Glossary
The reunion and blending together of properties for the purpose of securing equal division, especially of the property of an intestate parent.
n. the putting together, blending or mixing of various properties in order to achieve equal division among beneficiaries or heirs. There may be cash, securities, personal belongings, and even real estate which are part of the residue of an estate to be given to “my children, share and share alike.” To make such distribution possible, all of the items are put in the hotchpot and then divided.
In civil and property law, hotchpot is the blending, combining or offsetting of property to ensure equality of a later division of property.
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This glossary post was last updated: 28th April, 2020 | 2 Views.