Interpleader

Definition: A court procedure allowing a stakeholder facing competing claims to money or property to ask the court to determine entitlement.

Example

A broker who claims no personal interest in a disputed deposit deposits the funds with the court through the appropriate interpleader process.

Keep the distinction clear

Interpleader is a judicial procedure, unlike a FREC escrow disbursement order. A broker claiming part of the funds presents a different factual situation.

Related terms

Conflicting Demands · Escrow Disbursement Order (EDO) · Declaratory Judgment

Keep studying

Florida Escrow Deposits: Associate and Broker Deadlines

References: Florida Statutes 475.25: discipline and escrow disputes

Pronunciation (US): in-ter-PLEE-der (capitals show stress)

Pronunciation reference: Merriam-Webster