interpleaders
/ˌɪntərˈpliːdərz/
noun
- A legal proceeding in which a person holding money or property asks a court to decide who among multiple claimants is entitled to it.
- The insurance company used an interpleader when two different people claimed the same policy benefit.
- The bank filed an interpleader to determine which of the two heirs should receive the funds.
- In an interpleader, the stakeholder deposits the disputed money with the court and steps aside.