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Dictionary of Law |
net estate :: legal definitionNet estate - n. the remaining estate of a person who has died, calculated by taking the value of all assets and subtracting all debts of the person who died, including funeral costs, expenses of administering the estate and any other allowable deductions. The federal estate tax (and/or state inheritance tax where it exists) is then based on the net estate value. See also: estate tax gift tax and Related Law Terms ↓ Related Law Termsaccretion :: n. 1) in real estate, the increase of the actual l ... cted event. See also: probate trustadministrator :: n. the person appointed by the court to handle the ... e also: administer executor probate advancement :: n. a gift made by a person to one of his or her ch ... tate gift in contemplation of death after-acquired title :: n. title to property acquired after the owner atte ... ed title goes automatically to Sam. bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy claim against an estate :: n. upon the death of a person and beginning of pro ... ade to the heirs. See also: probate estate :: n. 1) all that one owns in real estate and other a ... ife estate probate real estate will 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 fiduciary :: 1) n. from the Latin fiducia, meaning "trust," a p ... lation fiduciary relationship trust gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax head of household :: n. 1) in federal income tax law, the person filing ... n or daughter. 3) "head of family." 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.). lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property. 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. power of attorney :: n. a written document signed by a person giving an ... y, as in a real estate transaction. pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title. probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion residue :: n. in a will, the assets of the estate of a person ... distribution residuary bequest will special administrator :: n. a person appointed by the court in a probate pr ... or administrator. See also: probate tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift 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 - NN.O.V. :: adj. shorthand acronym of Latin for non obstante v ... notwithstanding the verdict verdicNational Labor Relations Board :: n. an independent regulatory commission created in ... see union and organizing elections. natural law :: n. 1) standards of conduct derived from traditiona ... eated by mankind through the state. natural person :: n. a real human being, as distinguished from a cor ... ated at law as a fictitious person. necessary :: adj., adv. 1) essen- tial. 2) less forcefully, it ... nient, useful or making good sense. necessary inference :: n. 1) a conclusion militated by reason and logic a ... nown facts. 2) unavoidable meaning. necessary party :: n. a person or entity whose interests will be affe ... o: indispensable party proper party negative declaration :: n. a finding by a city council or other local gove ... so: EIR environmental impact report negative pregnant :: n. a denial of an allegation in which a person act ... suse, just the amount and the date. negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort negligence per se :: (purr say) n. negligence due to the violation of a ... riving. See also: negligence per se negligent :: adj., adv. careless in not fulfilling responsibili ... esponsibility. See also: negligence negotiable instrument :: n. check, promissory note, bill of exchange, secur ... bearer paper bill of exchange check negotiation :: n. 1) the transfer of a check, promissory note, bi ... te. See also: negotiable instrument net :: : n., adj. the amount of money or value remaining ... or net estate. See also: net estate net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax new matter :: n. newly claimed facts or legal issues raised (bro ... ee also: affirmative defense answer next friend :: n. a person (often a relative) who voluntarily hel ... filed. See also: guardian ad litem next of kin :: n. 1) the nearest blood relatives of a person who ... See also: descent and distribution nihil :: (ni [as in it]-hill) n. from Latin for nothing. ... t]-hill) n. from Latin for nothing. |