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Dictionary of Law |
lease :: legal definitionLease - 1) n. a written agreement in which the owner of property (either real estate or some object like an automobile) allows use of the property for a specified period of time (term) for specific periodic payments (rent), and other terms and conditions. Leases of real property describe the premises (often by address); penalties for late payments, termination upon default of payment or breach of any significant conditions; increases in rent based on cost of living or some other standard; inclusion or exclusion of property taxes and insurance in rent; limitations on use (for a butcher shop, a residence for the family only, no pets); charges for staying on beyond the term (holding over); any right to renew the lease for another period; and/or a requirement for payment of attorneys' fees and costs in case of the need to enforce the lease (including eviction). A lease is distinguished from a mere renting of the premises on a month-to-month basis and cannot exceed a year unless agreed to in writing. A "triple net" lease includes both taxes and insurance in the rent. 2) v. to rent out real property or an object pursuant to a written agreement. See also: leasehold real property rent statute of frauds triple net lease unlawful detainer 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 abstract of title :: n. the written report on a title search which show ... e also: chain of title title report 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 adverse possession :: n. a means to acquire title to land through obviou ... o: possession prescriptive easement after-acquired property :: n. 1) personal or real property acquired by a debt ... lso: bankruptcy secured transaction appurtenant :: adj. pertaining to something that attaches. In rea ... t. See also: easement real property assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property. assume :: v. to take over the liability for a debt on a prom ... he assumption. See also: assumption attorney-in-fact :: n. someone specifically named by another through a ... cument. See also: power of attorney attractive nuisance doctrine :: n. a legal doctrine which makes a person negligent ... ch make negligence harder to prove. 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 bond :: n. 1) written evidence of debt issued by a company ... good up to the amount of the bond. capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange cestui que use :: (pronounced ses-tee kay use or setty kay use) n. a ... beneficiary cestui que trust trust chain of title :: n. the succession of title ownership to real prope ... title conveyance foreclosure title child support :: n. court-ordered funds to be paid by one parent to ... ild custody divorce spousal support cloud on title (cloud) :: n. an actual or apparent outstanding claim on the ... ion reconveyance title title report collateral :: 1) n. property pledged to secure a loan or debt, u ... ral to the Colorado divorce action. color of title :: n. the appearance of having title to personal or r ... rty based on this "color of title." 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 condition subsequent :: n. 1) in a contract, a happening which terminates ... Dad Fauntleroy. See also: condition constitutional rights :: n. rights given or reserved to the people by the U ... e also: Bill of Rights constitution conversion :: n. a civil wrong (tort) in which one converts anot ... the crime of theft. See also: theft convey :: v. to transfer title (official ownership) to real ... ion conveyance deed grantee grantor conveyance :: n. a generic term for any written document which t ... r Recorder of Deeds. See also: deed copyright :: 1) n. the exclusive right of the author or creator ... plagiarism public domain trademark court costs :: n. fees for expenses that the courts pass on to at ... ee also: cost bill prevailing party 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 demise :: 1) v. an old-fashioned expression meaning to lease ... r life. 3) n. death. 4) n. failure. 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 divorce :: 1) n. the termination of a marriage by legal actio ... y separate property spousal support 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 encumbrance :: (incumbrance)n. a general term for any claim or li ... and must be paid for at some point. escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent estate tax :: n. generally a federal tax on the transfer of a de ... commonly called an inheritance tax. eviction :: n. a generic word for the act of expelling (kickin ... ve eviction lease unlawful detainer evidence :: n. every type of proof legally presented at trial ... material object objection relevant exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution executor :: n. the person appointed to administer the estate o ... sed decedent executrix probate will 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 free and clear :: adj. referring to the ownership of real property u ... the title has no claim against it. grace period :: n. a time stated in a contract in which a late pay ... the contract, i.e. your insurance. grandfather clause :: n. 1) a clause in a statute or zoning ordinance (p ... Such laws are now unconstitutional. grant deed :: n. the document which transfers title to real prop ... rant grantee grantor quitclaim deed 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. 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 invasion of privacy :: n. the intrusion into the personal life of another ... randeis. See also: right to privacy invitee :: n. a person who comes onto another's property, pre ... ail employees. See also: negligence joint :: adj., adv. referring to property, rights or obliga ... ncy joint venture tenancy in common joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title land :: n. real property, real estate (and all that grows ... See also: real estate real property landlord :: n. a person who owns real property and rents or le ... so: lease lessee lessor rent tenant landlord and tenant :: n. the name for the area of law concerning renting ... ord lease lessee lessor rent tenant law :: n. 1) any system of regulations to govern the cond ... um maritime law natural law statute leasehold :: n. the real estate which is the subject of a lease ... sehold. See also: condominium lease legatee :: n. a person or organization receiving a gift of an ... eficiary devise devisee legacy will let :: v. 1) to allow or permit. This is distinguished fr ... rson. See also: lease rent sublease 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. lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order. literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright loss of use :: n. the inability to use an automobile, premises or ... ding or premises. See also: damages marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust marketable title :: n. the title to real property which has no encumbr ... e. See also: contract real property mechanic's lien :: n. the right of a craftsman, laborer, supplier, ar ... ll sue for the debt. See also: lien minority :: n. 1) in voting, a side with less than half the vo ... See also: legal age majority minor mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax no fault insurance :: n: a type of automobile insurance required of car ... ling lawsuits. See also: negligence nominal party :: n. a defendant or a plaintiff included in a lawsui ... ed. See also: necessary party party non-conforming use :: n. the existing use (residential, commercial, agri ... eneral plan grandfathered in zoning notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice nuisance :: n. the unreasonable, unwarranted and/or unlawful u ... evening). See also: public nuisance option :: n. a right to purchase property or require another ... ng or upon expiration of the lease. palimony :: n. a substitute for alimony in cases in which the ... the relationship. See also: alimony parole :: n. 1) the release of a convicted criminal defendan ... sed he will not take up arms again. personalty :: n. movable assets (things, including animals) whic ... lso: personal effects real property petty larceny :: n. a term used in many states for theft of a small ... emeanor in charging and sentencing. possession :: n. 1) any article, object, asset or property which ... ctive possession. See also: possess possessory interest :: n. in real estate, the intent and right of a perso ... o: possess possession real property possibility of a reverter :: n. the potential that the title to a real property ... further issue. See also: reversion power of attorney :: n. a written document signed by a person giving an ... y, as in a real estate transaction. 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. probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury 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). quiet title action :: n. a lawsuit to establish a party's title to real ... opposition. See also: notice title quitclaim deed :: n. a real property deed which transfers (conveys) ... also: convey deed grant deed title real estate :: n. land, improvements and buildings thereon, inclu ... the future. See also: real property 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 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 reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation. remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder rent :: 1) v. to hire an object or real property for a per ... ice. See also: lease month-to-month rental value :: n. the amount which would be paid for rental of si ... alimony to be paid. See also: rent restraint on alienation :: n. an attempt in a deed or will to prevent the sal ... enant rule against perpetuities use reversion :: n. in real property, the return to the grantor or ... lled "reverter." See also: reverter risk :: n. chances of danger or loss, particularly of prop ... so: assumption of risk risk of loss robbery :: n. 1) the direct taking of property (including mon ... We've been robbed." See also: theft rule against perpetuities :: n. the legal prohibition against tying up property ... . See also: restraint on alienation security deposit :: n. a payment required by a landlord from a tenant ... lso: landlord and tenant lease rent 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 servient estate :: n. real property which has an easement or other us ... See also: dominant estate easement settlement :: n. the resolution of a lawsuit (or of a legal disp ... ult in settlement. See also: settle spot zoning :: n. a provision in a general plan which benefits a ... . See also: grandfathered in zoning statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage sublease :: n. the lease to another of all or a portion of pre ... and sublease. See also: lease rent subrogation :: n. assuming the legal rights of a person for whom ... also: negligence subrogee subrogor 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. term :: n. 1) in contracts or leases, a period of time, su ... nancy" is one term for "occupancy." theft :: n. the generic term for all crimes in which a pers ... rglary embezzlement larceny robbery title :: n. 1) ownership of real property or personal prope ... ink slip real property title search title insurance :: n. a policy issued by an insurance company guarant ... : chain of title title title search title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance title search :: n. the examination of county records for the prope ... e escrow lien title title insurance tort :: n. from French for "wrong," a civil wrong or wrong ... nce slander trespass wrongful death trespass :: n. entering another person's property without perm ... for an illegal purpose is a crime. triple net lease :: n. a lease in which the lessee's (tenant's) rent i ... ers and malls. See also: lease rent undivided interest :: n. title to real property held by two or more pers ... y by the entirety tenancy in common unlawful detainer :: n. 1) keeping possession of real property without ... Thirty-day notice three-day notice 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 - Llabor and materials :: (time and materials) n. what some builders or repa ... track of actual labor hours worked.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 landlady :: n. female of landlord or owner of real property fr ... rents or leases. See also: landlord landlocked :: adj. referring to a parcel of real property which ... which it was created (carved out). landlord :: n. a person who owns real property and rents or le ... so: lease lessee lessor rent tenant landlord and tenant :: n. the name for the area of law concerning renting ... ord lease lessee lessor rent tenant landlord's lien :: n. the right of a landlord to sell abandoned perso ... to the ex-tenant and a public sale. lapse :: 1) v. to fail to occur, particularly a gift made i ... eficiary devisee legatee trust will larceny :: n. the crime of taking the goods of another person ... : grand larceny petty larceny theft last antecedent rule :: n. a doctrine of interpretation (construction) of ... o trucks and not boats or tractors. last clear chance :: n. a rule of law in determining responsibility for ... contributory negligence negligence last will and testament :: n. a fancy and redundant way of saying "will." Law ... writing another one. See also: will latent defect :: n. a hidden flaw, weakness or imperfection in an a ... warranty product liability warranty lateral support :: n. the right of a land- owner to assurance that hi ... support problems are less dramatic. law :: n. 1) any system of regulations to govern the cond ... um maritime law natural law statute law and motion calendar :: n. a court calendar in which only motions and spec ... special legal arguments are heard. law book :: n. any of numerous volumes dealing with law, inclu ... : common law law Shepardize statute law of admiralty :: n. statutes, customs and treaties dealing with act ... w. See also: Jones Act maritime law law of the case :: n. once a judge has decided a legal question durin ... he ruling is the "law of the case." |