a rule of procedure that allows a person who has a thing or money not belonging to him, and who is not certain to whom among several claimants it rightfully belongs, may give the thing or money to the court to decide who gets the thing or money
A method for settling a claim under which the insurer pays the policy proceeds to a court, stating that the company cannot determine the correct party to whom the proceeds should be paid, and asks the court to decide the proper recipient
In the United States, a procedure under which an insurance company that cannot determine which claimant is entitled to receive insurance policy proceeds may pay the proceeds to a court and ask the court to decide the proper recipient See also payment of insurance money into court
A court action which may be filed in an existing case to be the initial action One holding funds which are in dispute, but not having an interest in the funds, would file an inter- pleader For example: An escrow agent is holding a deposit of a buyer which funds both buyer and seller claim to be entitled Escrow is willing to give the funds to either buyer or seller but does not want to be liable for giving the funds to the wrong party The interpleader filed by the escrow agent asks the court to determine to whom the funds should be awarded
A proceeding devised to enable a person, of whom the same debt, duty, or thing is claimed adversely by two or more parties, to compel them to litigate the right or title between themselves, and thereby to relieve himself from the suits which they might otherwise bring against him
A cause of action that allows a stakeholder to sue two or more parties claiming the stakes, pay the stakes into court, and leave the lawsuit, usually with its attorney fees Some issuers confronted by a beneficiary that claims he is entitled to the credit proceeds and an applicant claiming that the beneficiary is not entitled to them have convinced courts that they have the right to file an action in interpleader; some courts have been hostile to interpleader in that setting
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