Liquid Assets Legal Meaning and Definition

Here is a simplified definition of the legal term Liquid Assets.

Liquid Assets

Liquid Assets are a type of property or investment that can be quickly and easily converted into cash without losing their value. These might include things like cash on hand, bank accounts, stocks, bonds, or money market funds. The ease and speed at which an asset can be turned into cash is what makes it "liquid." This is important in situations where money is needed right away, such as emergencies or unexpected expenses.