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Dictionary of Law |
tax :: legal definitionTax - n. a governmental assessment (charge) upon property value, transactions (transfers and sales), licenses granting a right and/or income. These include federal and state income taxes, county and city taxes on real property, state and/or local sales tax based on a percentage of each retail transaction, duties on imports from foreign countries, business licenses, federal tax (and some states' taxes) on the estates of persons who have died, taxes on large gifts and a state "use" tax in lieu of sales tax imposed on certain goods bought outside of the state. See also: ad valorem capital gains estate tax franchise tax gift tax income tax unified estate and gift tax use tax and Related Law Terms ↓ Related Law Termsabandoned property :: n. property left behind (often by a tenant) intent ... -use. See also: abandon abandonmentabandonment :: n. the act of intentionally and permanently giving ... : abandon abandoned property patent acceleration clause :: n. a provision in a contract or promissory note th ... . See also: acceleration assumption ad valorem :: adj. Latin for "based on value," which applies to ... per parcel. See also: property tax adjusted basis :: n. in accounting, the original cost of an asset ad ... s taxes. See also: basis income tax administrative law :: n. the procedures created by administrative agenci ... judge Administrative Procedure Act administrator :: n. the person appointed by the court to handle the ... e also: administer executor probate adultery :: n. consensual sexual relations when one of the par ... s and grist for scandal newspapers. advancement :: n. a gift made by a person to one of his or her ch ... tate gift in contemplation of death adverse possession :: n. a means to acquire title to land through obviou ... o: possession prescriptive easement appeal :: 1) v. to ask a higher court to reverse the decisio ... ng, as in "he has filed an appeal." assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property. attorney :: n. 1) an agent or someone authorized to act for an ... ialize. See also: court reciprocity Attorney General :: n. in each state and the federal government the hi ... izenry. See also: Solicitor General bad debt :: n. an uncollectible debt. The problem is to determ ... ust no income on which to be taxed. bank :: n. 1) an officially chartered institution empowere ... erred to as "in bank" or "en banc." 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 Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people. capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange child custody :: n. a court's determination of which parent, relati ... pport custody divorce joint custody child support :: n. court-ordered funds to be paid by one parent to ... ild custody divorce spousal support comity :: n. when one court defers to the jurisdiction of an ... of cases to which comity may apply. common property :: n. 1) real property owned by "tenants in common," ... e, like parks and national forests. community property :: n. property and profits received by a husband and ... and distribution separate property comparative negligence :: n. a rule of law applied in accident cases to dete ... utory negligence damages negligence conflict of law :: n. a situation in which both state and federal law ... y arose. See also: forum preemption constitution :: n. the fundamental, underlying document which esta ... ts common law constitutional rights constitutional rights :: n. rights given or reserved to the people by the U ... e also: Bill of Rights constitution consumer protection laws :: n. almost all states and the federal government ha ... rranty product liability securities contemplation of death :: n. the anticipation of death in a relatively short ... e also: unified estate and gift tax contingent interest :: n. an interest in real property which, according t ... ontingent remainder future interest conversion :: n. a civil wrong (tort) in which one converts anot ... the crime of theft. See also: theft copyright :: 1) n. the exclusive right of the author or creator ... plagiarism public domain trademark corporation :: n. an organization formed with state governmental ... ation public corporation securities court :: n. 1) the judge, as in "The court rules in favor o ... cost and wait of full court trials. covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant d.b.a. :: n. short for "doing business as," when a person or ... that is registered with the state. deduction :: n. an expenditure which an income tax payer may su ... dded together, reduce the tax owed. deficiency judgment :: n. a judgment for an amount not covered by the val ... o: foreclosure judicial foreclosure descent :: n. the rules of inheritance established by law in ... on inheritance intestate succession devise :: 1) v. an old-fashioned word for giving real proper ... so: bequest gift legacy remise will devisee :: n. a person who receives a gift of real property b ... will. See also: beneficiary legatee disbar :: v. to remove an attorney from the list of practici ... legal ethics. (See moral turpitude discrimination :: n. unequal treatment of persons, for a reason whic ... qual rights. See also: civil rights diversity of citizenship :: n. when opposing parties in a lawsuit are citizens ... unt in controversy exceeds $10,000. divorce :: 1) n. the termination of a marriage by legal actio ... y separate property spousal support dominant estate :: n. in real estate law, the property retained when ... See also: easement servient estate double jeopardy :: n. placing someone on trial a second time for an o ... that occurred thirty years earlier. double taxation :: n. taxation of the same property for the same purp ... it is not discriminatory or unfair. easement :: n. the right to use the real property of another f ... rstandings at the time of creation. eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation equal opportunity :: 1) n. a right supposedly guaranteed by both federa ... be so. See also: affirmative action equity :: n. 1) a venerable group of rights and procedures t ... ry enjoin equitable injunction writ estate tax :: n. generally a federal tax on the transfer of a de ... commonly called an inheritance tax. exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange executor :: n. the person appointed to administer the estate o ... sed decedent executrix probate will exemption :: n. 1) in income taxation, a credit given for each ... l children or is a college student. foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud generation skipping :: adj., adv. referring to gifts made through trusts ... to a grandchild without a gift tax. gift :: n. the voluntary transfer of property (including m ... ift tax unified estate and gift tax gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax gift tax :: n. federal tax on large gifts. Gifts to members of ... ance in gift tax planning is vital. goodwill :: n. the benefit of a business having a good reputat ... an unknowing buyer. See also: sale grandfather clause :: n. 1) a clause in a statute or zoning ordinance (p ... Such laws are now unconstitutional. gross income :: n. in calculating income tax, the income of an ind ... in net income. See also: income tax guardian :: n. a person who has been appointed by a judge to t ... torship. See also: conservator ward impound :: v. 1) to collect funds, in addition to installment ... cases. See also: forfeit forfeiture income :: n. money, goods or other economic benefit received ... ernment and most state governments. income tax :: n. a tax on an individual's net income, after dedu ... al government. See also: income tax insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing interrogatories :: n. a set of written questions to a party to a laws ... ing. See also: deposition discovery interstate commerce :: n. commercial trade, business, movement of goods o ... and the I.C.C. may soon be history. joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title judge :: 1) n. an official with the authority and responsib ... ice justice of the peace magistrate jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue 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 law book :: n. any of numerous volumes dealing with law, inclu ... : common law law Shepardize statute lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer legacy :: n. a gift of personal property or money to a benef ... o: beneficiary bequest legatee 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 license :: 1) n. governmental permission to perform a particu ... eement. See also: licensee licensor 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 literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright Mann Act :: n. a federal statute making it a crime to transpor ... is five years in a federal prison. 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." merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other. mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax non-conforming use :: n. the existing use (residential, commercial, agri ... eneral plan grandfathered in zoning non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine nuisance :: n. the unreasonable, unwarranted and/or unlawful u ... evening). See also: public nuisance partnership :: n. a business enterprise entered into for profit w ... partnership partner silent partner petty larceny :: n. a term used in many states for theft of a small ... emeanor in charging and sentencing. possibility of a reverter :: n. the potential that the title to a real property ... further issue. See also: reversion preemption :: n. the rule of law that if the federal government ... cs control may parallel each other. premises :: n. 1) in real estate, land and the improvements on ... t). See also: real estate structure prescription :: n. the method of acquiring an easement upon anothe ... ty. See also: prescriptive easement pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title. property :: n. anything that is owned by a person or entity. P ... rty real property separate property 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). public defender :: n. an elected or appointed public official (usuall ... to convicted indigents for appeals. quitclaim deed :: n. a real property deed which transfers (conveys) ... also: convey deed grant deed title 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 recapture :: n. in income tax, the requirement that upon sale o ... capital gains. See also: income tax reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation. regulations :: n. rules and administrative codes issued by govern ... es usually have similar procedures. rental value :: n. the amount which would be paid for rental of si ... alimony to be paid. See also: rent reports :: n. the published decisions of appeals courts in al ... ilable in almost all law libraries. resale :: n. selling again, particularly at retail. 2) adj. ... ction of sales tax on retail sales. robbery :: n. 1) the direct taking of property (including mon ... We've been robbed." See also: theft royalty :: n. a percentage of gross or net profit or a fixed ... also: copyright infringement patent seal :: n. a device which creates an impression upon paper ... e "sealed," but that is rare today. seduction :: n. the use of charm, salesmanship, promises, gifts ... ry breach of promise date rape rape seized :: (seised) n. 1) having ownership, commonly used in ... by force. See also: seisin seizure self-defense :: n. the use of reasonable force to protect oneself ... ndalism. See also: assault homicide sentence :: 1) n. the punishment given to a person convicted o ... ence restitution suspended sentence separate property :: n. in community property states (California, Texas ... pouse. See also: community property servient estate :: n. real property which has an easement or other us ... See also: dominant estate easement sheriff :: n. the top law enforcement officer for a county, u ... ." See also: bailiff sheriff's sale sheriff's sale :: n. an auction sale of property held by the sheriff ... so: execution forced sale levy writ spot zoning :: n. a provision in a general plan which benefits a ... . See also: grandfathered in zoning spousal support :: n. payment for support of an ex-spouse (or a spous ... but two. See also: alimony divorce standing :: n. the right to file a lawsuit or file a petition ... so: actual controversy jurisdiction statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll Supreme Court :: n. 1) the highest court in the United States, whic ... rt in other states. See also: court Tax Court :: n. a federal agency with courts in major cities wh ... Appeals. See also: court income tax tenancy by the entirety :: n. joint ownership of title by husband and wife, i ... ee also: community property tenancy theft :: n. the generic term for all crimes in which a pers ... rglary embezzlement larceny robbery title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance trespass :: n. entering another person's property without perm ... for an illegal purpose is a crime. unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift tax use :: n. the right to enjoy the benefits of real propert ... ay it is only of academic interest. use tax :: n. a state tax on goods purchased in another state ... e" tax equivalent to its sales tax. will :: n. a written document which leaves the estate of t ... will and testament probate testator 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 - TT.R.O. :: n. legal slang for temporary restraining order. Se ... order. See also: restraining ordertainted evidence :: n. in a criminal trial, information which has been ... e search and seizure search warrant take :: v. to gain or obtain possession, including the rec ... eal property or stealing an object. taking the Fifth :: n. the refusal to testify on the ground that the t ... ifth." See also: self-incrimination tangible property :: n. physical articles (things) as distinguished fro ... operty personal property personalty tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax tax costs :: n. a motion to contest a claim for court costs sub ... sts" to avoid paying these charges. Tax Court :: n. a federal agency with courts in major cities wh ... Appeals. See also: court income tax tax evasion :: n. intentional and fraudulent attempt to escape pa ... o reduce the amount of payable tax. tax return :: n. the form to be filed with a taxing authority by ... able to the taxpayer. See also: tax tax sale :: n. an auction sale of a taxpayer's property conduc ... government to collect unpaid taxes. temporary injunction :: n. a court order prohibiting an action by a party ... ry injunction. See also: injunction temporary insanity :: n. in a criminal prosecution, a defense by the acc ... diminished capacity insanity intent tenancy :: n. the right to occupy real property permanently, ... rety tenancy in common tenant title tenancy at sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer tenancy at will :: n. occupation of real property owned by another un ... right to occupy. See also: tenancy tenancy by the entirety :: n. joint ownership of title by husband and wife, i ... ee also: community property tenancy tenancy in common :: n. title to property (usually real property, but i ... on. See also: joint tenancy tenancy tenant :: n. a person who occupies real property owned by an ... rental payments. See also: tenancy tender :: 1) v. to present to another person an unconditiona ... he tender. See also: delivery offer |