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Dictionary of Law |
foreclosure sale :: legal definitionForeclosure sale - n. the actual forced sale of real property at a public auction (often on the courthouse steps following public notice posted at the courthouse and published in a local newspaper) after foreclosure on that property as security under a mortgage or deed of trust for a loan that is substantially delinquent. The lender who has not been paid may bid for the property, using his/her/its own unpaid note toward payment, which can result in a bargain purchase. See also: deed of trust execution forced sale foreclosure judicial sale mortgage sheriff's sale and Related Law Terms ↓ Related Law Termsacceleration clause :: n. a provision in a contract or promissory note th ... . See also: acceleration assumptionacknowledgment :: n. the section at the end of a document where a no ... me leases and various other papers. bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people. breach :: 1) n. literally, a break. A breach may be a failur ... breach of trust breach of warranty capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange chain of title :: n. the succession of title ownership to real prope ... title conveyance foreclosure title cloud on title (cloud) :: n. an actual or apparent outstanding claim on the ... ion reconveyance title title report commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another. condemn :: v. 1) for a public agency to determine that a buil ... condemnation action eminent domain condemnation :: n. the legal process by which a governmental body ... eminent domain inverse condemnation condemnation action :: n. a lawsuit brought by a public agency to acquire ... e also: condemnation eminent domain convey :: v. to transfer title (official ownership) to real ... ion conveyance deed grantee grantor covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed deed of trust :: n. a document which pledges real property to secur ... : foreclosure mortgage reconveyance defect :: n. an imperfection, quite often so great that the ... See also: defective defective title deficiency judgment :: n. a judgment for an amount not covered by the val ... o: foreclosure judicial foreclosure delivery :: n. the actual handing to another of an object, mon ... rties. See also: contract deed sale eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud grant :: v. to transfer real property from a title holder ( ... deed grantee grantor quitclaim deed grant deed :: n. the document which transfers title to real prop ... rant grantee grantor quitclaim deed in lieu :: prep. instead. "In lieu taxes" are use taxes paid ... go through the foreclosure process. invitee :: n. a person who comes onto another's property, pre ... ail employees. See also: negligence judicial foreclosure :: n. a judgment by a court in favor of foreclosure o ... deed of trust foreclosure mortgage just compensation :: n. 1) in general a fair and reasonable amount of m ... ation make one whole quantum meruit levy :: 1) v. to seize (take) property upon a writ of exec ... heriff's sale tax writ of execution lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property. literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust market value :: n. the price which a seller of property would rece ... ich are often called "comparables." mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will property :: n. anything that is owned by a person or entity. P ... rty real property separate property public trust doctrine :: n. the principle that the government holds title t ... interest has been dubious at best. quitclaim deed :: n. a real property deed which transfers (conveys) ... also: convey deed grant deed title race to the courthouse :: n. slang for the rule that the first deed, deed of ... e also: deed judgment lien mortgage real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit. reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial redeem :: v. to buy back, as when an owner who had mortgaged ... so: foreclosure mortgage redemption remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder restraint on alienation :: n. an attempt in a deed or will to prevent the sal ... enant rule against perpetuities use restrictive covenant :: n. 1) an agreement included in a deed to real prop ... o: covenant that runs with the land resulting trust :: n. a trust implied by law (as determined by a cour ... See also: constructive trust trust self-defense :: n. the use of reasonable force to protect oneself ... ndalism. See also: assault homicide sheriff's sale :: n. an auction sale of property held by the sheriff ... so: execution forced sale levy writ subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax title search :: n. the examination of county records for the prope ... e escrow lien title title insurance trust deed :: n. another name for a deed of trust, a form of mor ... paid back. See also: deed of trust Popular Law Searcheslegal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay. forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay. what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger." mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor. clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate. Other Law Terms - Fface amount :: n. the original amount due on a promissory note or ... rein, without calculating interest.face value :: n. in shares of stock, the original cost of the st ... on the certificate, or "par value." fact :: n. an actual thing or happening, which must be pro ... dge if he/she sits without a jury). fact finder (finder of fact) :: n. in a trial of a lawsuit or criminal prosecution ... n facts. See also: question of fact factor :: n. 1) a salesman who sells in his/her own name on ... ing that contributes to the result. failure of consideration :: n. not delivering goods or services when promised ... n. See also: consideration contract failure of issue :: n. when someone dies leaving no children or other ... ildren or other direct descendants. fair comment :: n. a statement of opinion (no matter how ludicrous ... amation libel public figure slander fair market value :: n. the amount for which property would sell on the ... so: appraise appraiser market value fair trade laws :: n. state laws which permit manufacturers or produc ... state constitutions in many states. fair use :: n. the non-competitive right to use of copyrighted ... for a royalty. See also: copyright false arrest :: n. physically detaining someone without the legal ... sment. See also: false imprisonment false imprisonment :: n. depriving someone of freedom of movement by hol ... for damages. See also: false arrest false pretenses :: n. the crime of knowingly making untrue statements ... orm of theft. See also: fraud theft family :: n. 1) husband, wife and children. 2) all blood rel ... ting this economic and social unit. family purpose doctrine :: n. a rule of law that the registered owner of an a ... riving his/her car with permission. federal courts :: n. the court system which handles civil and crimin ... rans' appeals. See also: bankruptcy federal question :: n. one basis for filing a lawsuit in federal distr ... ves the federal court jurisdiction. Federal Tort Claims Act :: n. a statute (1948) which removed the power of the ... diction to federal district courts. fee :: n. 1) absolute title in land, from old French, fie ... See also: attorney's fee fee simple |