De bonis propriis, a term in Law Latin, signifies “of his own goods.” It pertains to a court ruling that permits the seizure of an administrator’s personal belongings rather than the assets of an estate. This occurs when the administrator mishandles the estate. It should not be confused with de bonis testatoris, which authorizes the court to seize the assets of a deceased individual’s estate.
De bonis propriis is a legal term that holds an administrator personally responsible for mismanaging an estate. Instead of seizing the property of the estate, a court can seize the administrator’s personal property, such as their car or house, to pay off the debts of the estate. This judgement is issued when an administrator uses the estate’s funds for personal expenses or fails to distribute the assets of the estate to the rightful heirs. By using de bonis propriis, the court can protect the interests of the estate and its beneficiaries, ensuring that debts are paid and assets are distributed fairly.
“De Bonis Propriis” is a Latin term that translates to “from one’s own goods.” In legal contexts, it refers to a situation where an individual is personally liable for a debt or obligation.
An individual can be held liable under De Bonis Propriis when they have personally guaranteed a debt or obligation, or when they have acted in a way that breaches their fiduciary duty, resulting in financial harm to another party.
Yes, corporate officers or directors can be held personally liable under De Bonis Propriis if they have personally guaranteed a debt or obligation on behalf of the corporation, or if they have breached their fiduciary duty resulting in financial harm to others.
The purpose of holding someone personally liable under De Bonis Propriis is to ensure that individuals cannot escape their financial obligations or fiduciary duties by hiding behind the corporate veil or other legal entities.
No, De Bonis Propriis is a principle primarily used in civil cases to hold individuals personally liable for financial obligations or breaches of fiduciary duty. It does not apply to criminal cases.
Yes, if someone is held personally liable under De Bonis Propriis, their personal assets can be seized to satisfy the debt or obligation they are responsible for.
Yes, even if someone was acting within the scope of their employment, they can still be held personally liable under De Bonis Propriis if they have personally guaranteed a debt or obligation or if they have breached their fiduciary duty.
In general, shareholders are not personally liable for a corporation’s debts. However, if a shareholder has personally guaranteed a debt or obligation or has breached their fiduciary duty, they can be held personally liable under De Bonis Propriis.
Partners in a general partnership are already personally liable for the partnership’s debts. Therefore, De Bonis Propriis is not typically necessary to hold partners personally liable. However, it may be applicable if a partner has personally guaranteed a debt or obligation beyond the scope of the partnership.
In general, members of an LLC are not personally liable for the company’s debts. However, if a member has personally guaranteed a debt or obligation or has breached their fiduciary duty, they can be held personally liable under De Bonis Propriis.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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