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Dictionary of Law |
pro rata :: legal definitionPro rata - (proh rat-ah or proh ray-tah) adj. from Latin for "in proportion," referring to a share to be received or an amount to be paid based on the fractional share of ownership, responsibility or time used. Examples: an heir who receives one-quarter of an estate may be responsible for one-quarter of the estate taxes as his/her pro rata share. A buyer of a rental property will pay his/her pro rata share of the property taxes for that portion of the year in which he/she holds title. Related Law Termsaccretion :: n. 1) in real estate, the increase of the actual l ... cted event. See also: probate trustad valorem :: adj. Latin for "based on value," which applies to ... per parcel. See also: property tax assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property. bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy basis :: n. the original cost of an asset to be used to det ... ssistance. See also: adjusted basis capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange charitable remainder trust (Charitable Remainder Irrevocable Unitrust) :: n. a form of trust in which the donor (trustor or ... ed up or committed. See also: trust contingent interest :: n. an interest in real property which, according t ... ontingent remainder future interest contribution :: n. 1) donation to a charity or political campaign. ... f $3,000 from each of his partners. conversion :: n. a civil wrong (tort) in which one converts anot ... the crime of theft. See also: theft devisee :: n. a person who receives a gift of real property b ... will. See also: beneficiary legatee dominant estate :: n. in real estate law, the property retained when ... See also: easement servient estate double taxation :: n. taxation of the same property for the same purp ... it is not discriminatory or unfair. estate tax :: n. generally a federal tax on the transfer of a de ... commonly called an inheritance tax. executor :: n. the person appointed to administer the estate o ... sed decedent executrix probate will forfeit :: v. to lose property or rights involuntarily as a p ... drunk driving. See also: forfeiture general partner :: n. 1) usually one of the owners and operators of a ... ted partnership partner partnership gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax heir :: n. one who acquires property upon the death of ano ... y pretermitted heir succession will hit and run :: n. the crime of a driver of a vehicle who is invol ... , and then walks back to the scene. hotchpot :: n. the putting together, blending or mixing of var ... t in the hotchpot and then divided. impound :: v. 1) to collect funds, in addition to installment ... cases. See also: forfeit forfeiture insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.). land :: n. real property, real estate (and all that grows ... See also: real estate real property lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer legatee :: n. a person or organization receiving a gift of an ... eficiary devise devisee legacy will leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging. 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. limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other. net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax partner :: n. 1) one of the co-owners and investors in a "par ... ner limited partnership partnership partnership :: n. a business enterprise entered into for profit w ... partnership partner silent partner property tax :: n. an annual governmental tax on real property or ... are made. See also: ad valorem tax protest :: 1) v. to complain in some public way about any act ... dishonored (not paid by the bank). real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit. real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion servient estate :: n. real property which has an easement or other us ... See also: dominant estate easement tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift tax 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 - Ppaid into court :: adj. referring to money deposited with the clerk o ... differences. See also: interpleaderpain and suffering :: n. the physical and mental distress suffered from ... l damages special damages suffering palimony :: n. a substitute for alimony in cases in which the ... the relationship. See also: alimony pander :: 1) v. to solicit customers for a prostitute. 2) n. ... ons or favors. See also: prostitute panderer :: n. 1) a person who panders or solicits for a prost ... special interests. See also: pander panel :: n. the list of people selected to appear for jury ... or jury duty. See also: jury venire paper hanger :: n. slang for a person who criminally writes and ca ... ey in them. See also: forgery fraud par :: n. 1) an equal level. 2) the face value of a stock ... common stock preferred stock stock paralegal :: n. a non-lawyer who performs routine tasks requiri ... h less than that for the attorneys. paramount title :: n. a right to real property which prevails over an ... n's claim of title. See also: title parcel :: n. a defined piece of real estate, usually resulti ... See also: real estate real property pardon :: 1) v. to use the executive power of a Governor or ... also: amnesty commutation reprieve parens patriae :: (paa-rens pat-tree-eye) n. Latin for "father of hi ... pport custody divorce guardian ward parent :: n. the lawful and natural father or mother of a pe ... natural parent. See also: adoption parental neglect :: n. a crime consisting of acts or omissions of a pa ... usive or sexually predatory person. pari delicto :: adj. equal fault. See also: in pari delicto ... al fault. See also: in pari delicto parish :: n. 1) a geographic area served by a church (partic ... overnmental equivalent of a county. parody :: n. the humorous use of an existing song, play, or ... l significance. See also: copyright parol :: adj. oral. See also: parol evidence rule ... oral. See also: parol evidence rule parol evidence rule :: n. if there is evidence in writing (such as a sign ... or contradict the written document. |