The term “odal” refers to land that is not bound by feudal duties or burdens. It is also called “odel,” “odhal,” or “odhall.” Ownership rights of such land are known as odal rights. An “odd lot” refers to a small number of shares of stock that are insufficient for trading on the stock exchange. An “odd-lot worker” is an individual with severe disabilities who cannot secure stable employment in the regular labor market and is eligible for workers’-compensation benefits under the odd-lot doctrine.
Odal, also known as allodium, is a historical term referring to land that is exempt from feudal duties or burdens. It can also be used as an adjective to describe an odal right. For instance, during medieval times, some landowners possessed odal land that was free from feudal obligations, such as taxes and military service to a lord. In present times, the term odal is occasionally utilised in legal contexts to denote a form of property ownership that is unrestricted by certain obligations or restrictions. These examples demonstrate how odal signifies a type of land ownership that is not bound by feudal obligations or restrictions. Despite being a historical term, it continues to be used in some legal contexts today.
Odal is a term used in Germanic law to refer to an inherited estate or property.
Odal is not recognized in most modern legal systems, but it is still recognized in some countries, such as Norway.
In some countries, such as Norway, Odal property can be sold, but there may be restrictions on who can purchase it.
In most cases, Odal property can only be inherited by someone within the family.
If there is no one in the family to inherit Odal property, it may revert back to the state or be sold.
In some cases, Odal property can be divided among multiple heirs, but this may depend on the specific laws of the country where the property is located.
In most cases, Odal property cannot be used as collateral for a loan.
In most cases, Odal property cannot be transferred to someone outside of the family.
The tax implications of inheriting Odal property may vary depending on the country where the property is located.
If you inherit Odal property, it is important to consult with a lawyer who is familiar with the laws of the country where the property is located to ensure that you understand your rights and obligations.
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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