IN SPECIE Meaning and
Definition
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The term "in specie" is derived from Latin and is predominantly used in the legal and financial context. It refers to a specific mode of transferring ownership or assets without the need for converting them into cash. "In specie" transactions involve transferring goods, assets, or property in the form or identity in which they exist rather than converting them to another form for the transfer to take place.
In a legal context, "in specie" is often used to describe the transfer of property between parties where the ownership of the property remains intact, but it is moved from one party to another. This can occur through gifting, inheritance, or settlements. For example, if an individual is bequeathed a specific artwork "in specie," it means that they will receive the artwork in its current form, whether it be a painting or sculpture.
In the financial sector, "in specie" can refer to the transfer of assets or investments from one entity to another. It is frequently employed in the context of retirement planning or investment funds. For instance, when an individual switches their retirement savings from one fund to another "in specie," it means that the investments in their portfolio are directly transferred, ensuring there is no need to liquidate the holdings and repurchase them in the new fund.
Overall, "in specie" signifies asset or property transfers that occur in their existing state, without undergoing conversion or liquidation into cash.
Common Misspellings for IN SPECIE
- un specie
- jn specie
- kn specie
- on specie
- 9n specie
- 8n specie
- ib specie
- im specie
- ij specie
- ih specie
- in apecie
- in zpecie
- in xpecie
- in dpecie
- in epecie
- in wpecie
- in soecie
- in slecie
- in s-ecie
Etymology of IN SPECIE
The term "in specie" is derived from Latin. "In" means "in" or "into" and "specie" means "form" or "kind". When used together, "in specie" literally translates to "in the form" or "in the kind" in English.
Idioms with the word IN SPECIE
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in specie
The idiom "in specie" refers to something being paid or transferred in the form of the actual physical property or asset itself, rather than in cash or another form of currency. It is often used in legal or financial contexts to specify that a transaction is being carried out in a specific manner or with a specific type of payment.
Similar spelling words for IN SPECIE
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