Reservation Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Reservation, written in plain English, along with examples of how it is used.
What is Reservation?
(n) Reservation is separation or keeping aside of a portion of the right, benefits etc for specific purpose there by the general rule, conditions etc applied to the whole part will not be effective to the reserved portion. For example in a will it is said the royalty income is reserved for charity, then the succession rules or conditions applied to the rest of the property will not be applied on his royalty income
History and Meaning of Reservation
Reservations have long been used in legal contexts to specify the allocation of certain rights, benefits, or resources to a particular individual or group. In general, a reservation involves setting aside a portion of something and ensuring that it is not subject to the same rules, conditions, or restrictions that apply to the rest. This can be done in a wide variety of legal contexts, such as wills, contracts, and land use agreements.
In legal terminology, a reservation is also sometimes referred to as a carve-out, exemption, or exception. These terms all refer to the same basic concept of setting something aside from the rest and treating it in a unique or special way.
Examples of Reservation
In a contract between a company and its employees, there may be a reservation specifying that certain benefits only apply to workers who have been with the company for a certain length of time.
A will might include a reservation stating that a particular asset or source of income is reserved for a specific beneficiary or charitable organization.
A land use agreement might include a reservation of mineral rights, which means that the owner of the property retains the rights to any valuable resources found beneath the surface, even if someone else is using the land for other purposes.
Legal Terms Similar to Reservation
Carve-out: This refers to the same basic concept of setting something aside from the rest and treating it in a unique or special way.
Exemption: An exemption is a similar concept to a reservation, which means setting something aside from the rest.
Exception: An exception is same as reservation that is an exclusion of a certain item or category from a larger group or set.