constructive trust :: n. when a person has title to property and/or take ... tence. See also: constructive trust
resulting trust :: n. a trust implied by law (as determined by a cour ... See also: constructive trust trust
trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee trustor
tentative trust :: n. a bank account deposited in the name of the dep ... hdrawn at any time. See also: trust
co-trustee :: n. a trustee of a trust when there is more than on ... act alone. See also: trust trustee
antitrust laws :: n. acts adopted by Congress to outlaw or restrict ... so: price fixing restraint of trade
non-discretionary trust :: n. a trust in which the trustee is directed to inv ... ower in the matter. See also: trust
trust deed :: n. another name for a deed of trust, a form of mor ... paid back. See also: deed of trust
deed of trust :: n. a document which pledges real property to secur ... : foreclosure mortgage reconveyance
testamentary trust :: n. a trust created by the terms of a will. Example ... vivos trust living trust trust will
simple trust :: n. a trust which requires that all income be distr ... nd not accumulated. See also: trust
public trust doctrine :: n. the principle that the government holds title t ... interest has been dubious at best.
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
real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit.
cestui que trust :: n. (properly pronounced ses-tee kay, but lawyers p ... ust's assets. See also: beneficiary
Massachusetts Trust :: n. a business in which the investors give manageme ... provide for eventual distribution.
trust fund :: n. the principal (called the corpus) of a trust, m ... ccumulated profits. See also: trust
beach bum trust provision :: n. a requirement in a trust that a beneficiary can ... live off the trust. See also: trust
breach of trust :: n. 1) any act which is in violation of the duties ... ise or confidence. See also: breach
living trust :: n. sometimes called an inter vivos (Latin for "wit ... thrift clause trust trustee trustor
declaration of trust :: n. the document signed by a trustor (settlor) crea ... also: settlor trust trustee trustor
trustor :: n. the creator of a trust (who normally places the ... ern states. See also: settlor trust
voting trust :: n. a trust which solicits vote proxies of sharehol ... ation proxy shareholder stockholder
trustee in bankruptcy :: n. a person appointed by a bankruptcy court to sup ... f the debtors. See also: bankruptcy
inter vivos trust :: n. a trust created by a writing (declaration of tr ... nter vivos testamentary trust trust
trustee :: n. a person or entity who holds the assets (corpus ... es. See also: settlor trust trustor
constructive :: adj. a legal fiction for treating a situation as i ... ctive possession constructive trust
corporate opportunity :: n. a business opportunity which becomes known to a ... ative action fiduciary relationship
constructive possession :: n. when a person does not have actual possession, ... possession. See also: constructive
constructive fraud :: n. when the circumstances show that someone's acti ... been proven. See also: constructive
constructive notice :: n. a fiction that a person got notice even though ... personally. See also: constructive
unjust enrichment :: n. a benefit by chance, mistake or another's misfo ... perty. See also: constructive trust
equitable lien :: n. a lien on property imposed by a court in order ... lso: constructive trust equity lien
constructive eviction :: n. when the landlord does not go through a legal e ... e door shut. See also: constructive
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud
record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial
notice of default :: n. a notice to a borrower with property as securit ... notice of default. See also: notice
out-of-pocket expenses :: n. moneys paid directly for necessary items by a c ... amages beyond normal wear and tear.
precatory :: adj. referring to a wish or advisory suggestion wh ... lutely prevent her from selling it.
offshore corporation :: n. a corporation chartered under the laws of a cou ... nds in accounts out of the country.
passive :: adj. referring to being inactive. A "passive trust ... ment and interest on bank accounts.
power of appointment :: n. the right to leave property by will, transfer, ... death of the person with the power.
per stirpes :: (purr stir-peas) adj. Latin for "by roots," by rep ... descent and distribution trust will
pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will
party of the first part :: n. reference in a written contract to identify one ... ies another party to the agreement.
parens patriae :: (paa-rens pat-tree-eye) n. Latin for "father of hi ... pport custody divorce guardian ward
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue
lapse :: 1) v. to fail to occur, particularly a gift made i ... eficiary devisee legatee trust will
judicial sale :: n. a sale of goods by an official (keeper, trustee ... o be sold. See also: sheriff's sale
judicial foreclosure :: n. a judgment by a court in favor of foreclosure o ... deed of trust foreclosure mortgage
inter vivos :: (in-tur veye-vohs) adj. Latin for "among the livin ... e will. See also: inter vivos trust
judgment creditor :: n. the winning plaintiff in a lawsuit to whom the ... 's rights judgment prevailing party
malfeasance :: n. intentionally doing something either legally or ... sponsibility. See also: misfeasance
marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust
negative pregnant :: n. a denial of an allegation in which a person act ... suse, just the amount and the date.
nominal party :: n. a defendant or a plaintiff included in a lawsui ... ed. See also: necessary party party
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
monopoly :: n. a business or inter-related group of businesses ... ust laws license restraint of trade
marketable title :: n. the title to real property which has no encumbr ... e. See also: contract real property
misappropriation :: n. the intentional, illegal use of the property or ... mbezzlement fiduciary larceny theft
nominee :: n. 1) a person or entity who is requested or named ... ic office. See also: agent executor
reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation.
share and share alike :: adj. referring to the equal division of a benefit ... among the three surviving nephews.
spendthrift clause :: n. a provision in a trust or will that states that ... tly to Junior. See also: trust will
share :: n. 1) a portion of a benefit from a trust, estate, ... n issue of the corporation's stock.
settlor :: n. the person who creates a trust by a written tru ... the trust. See also: trust trustor
security interest :: n. generic term for the property rights of a lende ... : deed of trust lien mortgage UCC-1
senior lien :: n. the first security interest (lien or claim) pla ... rtgage race to the courthouse UCC-1
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
will :: n. a written document which leaves the estate of t ... will and testament probate testator
will contest :: n. a lawsuit challenging the validity of a will an ... so: in terrorem clause probate will
treble damages :: n. tripling damages allowed by state statute in ce ... damage penalties. See also: damages
title search :: n. the examination of county records for the prope ... e escrow lien title title insurance
subordination agreement :: n. a written contract in which a lender who has se ... ty records. See also: subordination
title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance
secured transaction :: n. any loan or credit in which property is pledged ... d of trust lien mortgage pawn UCC-1
restraint of trade :: n. in antitrust law, any activity (including agree ... also: antitrust laws monopoly trust
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
prudent man rule :: n. the requirement that a trustee, investment mana ... (1994). See also: fiduciary trustee
probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will
priority :: n. the right to be first or ahead of the rights or ... (in the "race to the courthouse").
prevailing party :: n. the winner in a lawsuit. Many contracts, leases ... ed before or after trial has begun.
price fixing :: n. a criminal violation of federal antitrust statu ... stributors to beat the competition.
race to the courthouse :: n. slang for the rule that the first deed, deed of ... e also: deed judgment lien mortgage
real party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust.
inter se :: (in-tur say)prep. Latin for "among themselves," me ... or only to the trustees as a group.
Restatement of the Law :: n. a series of detailed statements of the basic la ... tracts, property, torts and trusts.
reentry :: n. taking back possession and going into real prop ... ages. See also: landlord and tenant
reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust
receiver :: n. 1) a neutral person (often a professional trust ... owing they were obtained illegally.
preference :: n. in bankruptcy, the payment of a debt to one cre ... nds or assets. See also: bankruptcy
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
competent :: adj. 1) in general, able to act in the circumstanc ... all bases. See also: evidence will
conditional bequest :: n. in a will, a gift which will take place only if ... rries." See also: bequest executory
confidence game :: n. the obtaining of money from others through tric ... t and confidence. See also: swindle
commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another.
cloud on title (cloud) :: n. an actual or apparent outstanding claim on the ... ion reconveyance title title report
cestui que use :: (pronounced ses-tee kay use or setty kay use) n. a ... beneficiary cestui que trust trust
closing :: n. the final step in the sale and purchase of real ... company, escrow holder or attorney.
confidential relation :: n. a relationship in which one person has confiden ... remely obvious. See also: fiduciary
conscious parallelism :: n. an undiscussed imitation by a business of a com ... cidence? No, conscious parallelism.
inheritance :: n. whatever one receives upon the death of a relat ... intestacy intestate succession will
corpus :: n. 1) Latin for body. 2) the principal (usually mo ... inguished from interest or profits.
contingent interest :: n. an interest in real property which, according t ... ontingent remainder future interest
contingent beneficiary :: n. a person or entity named to receive a gift unde ... lso: contingent contingent interest
consign :: v. 1) to deliver goods to a merchant to sell on be ... or by order of a bankruptcy judge.
conspirator :: n. a person or entity who enters into a plot with ... of antitrust laws. (See conspiracy
cartel :: n. 1) an arrangement among supposedly independent ... Colombia. See also: antitrust laws
breach :: 1) n. literally, a break. A breach may be a failur ... breach of trust breach of warranty
after-acquired property :: n. 1) personal or real property acquired by a debt ... lso: bankruptcy secured transaction
aliquot :: (al-ee-kwoh) adj. a definite fractional share, us ... trust assets. See also: share
acknowledgment :: n. the section at the end of a document where a no ... me leases and various other papers.
accretion :: n. 1) in real estate, the increase of the actual l ... cted event. See also: probate trust
abandonment :: 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
assignment for benefit of creditors :: n. a method used for a debtor to work out a paymen ... ar basis to pay the debtor's bills.
Attorney General :: n. in each state and the federal government the hi ... izenry. See also: Solicitor General
beneficial interest :: n. the right of a party to some profit, distributi ... benefits. See also: contract trust
beneficiary :: n. a broad definition for any person or entity (li ... beneficiary third-party beneficiary
bankruptcy proceedings :: n. the bankruptcy procedure is: a) filing a petiti ... ankruptcy court claim in bankruptcy
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
attorney-in-fact :: n. someone specifically named by another through a ... cument. See also: power of attorney
bail bond :: n. a bond provided by an insurance company through ... urned. See also: bail bail bondsman
court costs :: n. fees for expenses that the courts pass on to at ... ee also: cost bill prevailing party
controlling law :: n. the laws of the state which will be relied upon ... will be that of a particular state.
foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale
friendly suit :: n. a lawsuit filed in order to obtain a court orde ... eement in which there was an error.
fiduciary relationship :: n. where one person places complete confidence in ... handling. See also: fiduciary trust
fiduciary :: 1) n. from the Latin fiducia, meaning "trust," a p ... lation fiduciary relationship trust
examination :: n. 1) the questioning of a witness by an attorney. ... irect examination testimony witness
cy pres doctrine :: n. (see-pray doctrine) from French, meaning "as cl ... ey among several S.P.C.A. chapters.
generation skipping :: adj., adv. referring to gifts made through trusts ... to a grandchild without a gift tax.
good title :: n. ownership of real property which is totally fre ... or deed of trust on the property).
in kind :: adj. referring to payment, distribution or substit ... . See also: distribution trust will
incidental beneficiary :: n. someone who obtains a benefit as the result of ... parent. See also: beneficiary trust
implied :: adj., adv. referring to circumstances, conduct or ... nt implied consent implied warranty
hidden asset :: n. an item of value which does not show on the boo ... ets on a profit and loss statement.
grantor-grantee index :: n. a set of books and/or computerized lists found ... ument in tracking a chain of title.
guardian :: n. a person who has been appointed by a judge to t ... torship. See also: conservator ward
estate tax :: n. generally a federal tax on the transfer of a de ... commonly called an inheritance tax.
fee tail :: n. an old feudal expression for a title to real pr ... rest only. See also: fee fee simple
delayed exchange :: n. an exchange of property to put off capital gain ... method and survived an IRS lawsuit.
escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent
distribute :: v. 1) the dividing up of those assets of an estate ... and distribution probate trust will
deficiency judgment :: n. a judgment for an amount not covered by the val ... o: foreclosure judicial foreclosure
default :: 1) n. failure to respond to a summons and complain ... default judgment notice of default
debtor in possession :: n. in bankruptcy proceedings when a debtor has fil ... n possession." See also: bankruptcy
deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed
distribution :: n. the act of dividing up the assets of an estate ... p percentages. See also: distribute
discretion :: n. the power of a judge, public official or a priv ... t a variance to a zoning ordinance.
eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation
divestiture :: n. the court-ordered or voluntary giving up of a p ... nopoly or other restraint of trade.
embezzler :: n. a person who commits the crime of embezzlement ... r property of an employer or trust.
encumbrance :: (incumbrance)n. a general term for any claim or li ... and must be paid for at some point.
embezzlement :: n. the crime of stealing the funds or property of ... in trust. See also: embezzler theft
elder law :: n. a specialty in legal practice, covering estate ... t field. (definition revised: 9/02)
bailment :: n. 1) the act of placing property in the custody a ... "bailment." See also: bailee bailor
delivery :: n. the actual handing to another of an object, mon ... rties. See also: contract deed sale
eviction :: n. a generic word for the act of expelling (kickin ... ve eviction lease unlawful detainer
possession :: n. 1) any article, object, asset or property which ... ctive possession. See also: possess
actual notice :: n. having been informed directly of something or h ... official records). See also: notice
service by publication :: n. serving a summons or other legal document in a ... perty. See also: service of process
personal service :: n. delivering a summons, complaint, notice to quit ... process substituted service summons