The meaning of situs is the place where something exists or originates For most physical items the situs is the place where the object is located presently such as a house or a purse. The place where something (such as a right) is held to be located in law
How to use situs in a sentence. Where the situs of something is depends on the type of item and can have important legal consequences Investment advisory, transaction and securitization support, servicing, asset management, special servicing, and valuations.
Pronounced / ˈsaɪtəs / in english) of property is where the property is treated as being located for legal purposes. Situs (plural situses or situs) (anatomy, botany) the position, especially the usual, normal position, of a body part or part of a plant (botany) the method in which the parts of a plant are arranged (law) the location of a property as used for taxation or other legal purposes.
“what is situs?”, you ask Situs is a word in latin that basically means the site or location where something exists or originates Like most words in latin, situs is usually used for legal purposes In the real estate industry, you will hardly hear the word.
It is distinct from the term “site,” which describes the physical land and its boundaries. Situs means the location of property or an item for legal purposes
