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Who files an interpleader?

An interpleader is a civil action filed by a stakeholder, often a life insurance company, that is facing competing claims over benefits that are due.

Is interpleader an equitable remedy?

Interpleader is defined as an equitable remedy now governed by statute, whereby a holder of money such as an escrow deposits funds or property with the Court.

What does Interplead the funds mean?

Interpleader is defined as an equitable remedy now governed by statute, whereby a holder of money such as an escrow deposits funds or property with the Court.

How does an interpleader action work?

In an interpleader action, a party who knows two or more other parties are making a claim on some asset controlled by the party can ask the court to decide who has what rights to the asset, deposit the asset into the custody of the court or a third party and remove itself from the litigation.

What is the purpose of an interpleader?

A way for a holder of property to initiate a suit between two or more claimants to the property. If, for example, A holds property that he knows he does not own, but that both B and C are claiming, A can sue both B and C in an interpleader action, where B and C could litigate who actually owns the property.

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