Definition of "Interpleader"

Melissa Reed
Melissa Reed Keller Wiliams Realty Atlanta Partners

Legal procedure through which a court determines the rightful claimant (of two or more claimants making the same claim) against a third party. Insurance companies use interpleader if claims are made by different parties. For example, upon the death of an insured, two or more individuals (such as the widow and a former wife) may contest the beneficiary's rights. The insurance company will deposit the policy proceeds with the court until it decides on the ownership.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ