Settlee

A 'settlee' is an individual or entity who is the recipient of a settlement. This term typically applies in legal, financial, or property contexts, where a resolution, agreement, or transfer of assets has occurred. The settlee benefits from the settlement, receiving compensation, property, or rights. This contrasts with the 'settlor' who is the party providing the settlement. Understanding the role of the settlee is crucial in deciphering the implications and outcomes of settlements, often involving negotiations, legal proceedings, or contractual obligations. The term emphasizes the receiving aspect of the settlement.

Settlee meaning with examples

• Following the lawsuit, the injured party became the settlee, receiving a significant financial compensation to cover medical expenses and emotional distress. The settlement agreement outlined the precise amount and the terms for disbursement, ensuring the settlee was fairly compensated for their losses.
• In the property dispute, the neighbor who agreed to sell a portion of their land to the homeowner became the settlee. The settlement established the new property boundaries and the financial considerations, benefiting the settlee who received payment for the land.
• Upon the completion of the divorce, the spouse awarded the family home was the settlee. The legal documents transferred ownership, and the settlee gained control of the property, fulfilling the agreed-upon terms of the settlement and offering them stability.
• The insurance company designated the policyholder as the settlee after assessing the damages to the vehicle involved in the collision. The settlement included the funds required to repair the vehicle, providing the settlee with financial relief and the means to restore the car.