Peculium profectitium is a form of property in ancient Roman law, where a father would permit his son to use and oversee the property while still retaining ownership.
Peculium profectitium refers to property in Roman law that a father permits his son to manage and utilise, while the father retains ownership. This property is granted to the son while he is still under the father’s authority. For instance, a father may grant his son a small farm to oversee and utilise for personal gain, while still maintaining ownership of the land. Another example is a father allowing his son to manage a business or trade, while still possessing the assets and profits. These examples exemplify the concept of peculium profectitium as they demonstrate how a father can grant his son a certain level of independence and responsibility, while still exerting control over the property. The son is permitted to utilise and benefit from the property, but the father ultimately retains ownership and has the ability to reclaim it at any time.
Peculium Profectitium refers to property or assets acquired by an individual during the course of their employment or business activities.
Yes, Peculium Profectitium is generally subject to taxation as it is considered part of an individual’s income or profits.
Yes, Peculium Profectitium can be included in a divorce settlement as it is considered part of the individual’s overall assets.
Yes, Peculium Profectitium can be used as collateral for a loan, provided that the lender accepts it as a valid form of security.
Yes, Peculium Profectitium can be inherited by beneficiaries as part of an individual’s estate.
In certain circumstances, Peculium Profectitium can be seized by creditors to satisfy outstanding debts, depending on the applicable laws and regulations.
Yes, Peculium Profectitium can be transferred to another person through various legal mechanisms such as gifting, sale, or assignment.
The protection of Peculium Profectitium from bankruptcy proceedings depends on the specific laws and regulations governing bankruptcy in the relevant jurisdiction.
Yes, Peculium Profectitium can be used as evidence in a legal dispute, particularly in cases involving issues such as income, assets, or financial transactions.
In certain circumstances, Peculium Profectitium can be subject to forfeiture by the government if it is determined to be involved in illegal activities or obtained through unlawful means.
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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