|
|
|
|
Dictionary of Law |
Founded: 410 real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit. real estate :: n. land, improvements and buildings thereon, inclu ... the future. See also: real property life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property. estate :: n. 1) all that one owns in real estate and other a ... ife estate probate real estate will dominant estate :: n. in real estate law, the property retained when ... See also: easement servient estate servient estate :: n. real property which has an easement or other us ... See also: dominant estate easement real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion realty :: n. a short form of "real estate." See also: real e ... real estate." See also: real estate intestate succession :: n. the distribution when a person dies without lea ... sion. See also: intestacy intestate net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax intestate :: adj. referring to a situation where a person dies ... lso: intestacy intestate succession estate tax :: n. generally a federal tax on the transfer of a de ... commonly called an inheritance tax. Restatement of the Law :: n. a series of detailed statements of the basic la ... tracts, property, torts and trusts. real party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust. claim against an estate :: n. upon the death of a person and beginning of pro ... ade to the heirs. See also: probate unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift tax gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax dedication :: n. the giving of land by a private person or entit ... perty. See also: quiet title action covenant that runs with the land :: n. a promise contained in a deed to land or real e ... l future owners. See also: covenant leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging. undivided interest :: n. title to real property held by two or more pers ... y by the entirety tenancy in common full disclosure :: n. the need in business transactions to tell the " ... icant fact. See also: caveat emptor take :: v. to gain or obtain possession, including the rec ... eal property or stealing an object. nominee :: n. 1) a person or entity who is requested or named ... ic office. See also: agent executor freehold :: n. any interest in real property which is a life e ... -year variety). See also: leasehold legacy :: n. a gift of personal property or money to a benef ... o: beneficiary bequest legatee will acknowledgment :: n. the section at the end of a document where a no ... me leases and various other papers. specific devise :: n. the gift in a will of a certain piece of real e ... ther, David." See also: devise will contingent interest :: n. an interest in real property which, according t ... ontingent remainder future interest contiguous :: adj. connected or "next to", usually meaning adjoi ... ng adjoining pieces of real estate. peaceable possession :: n. in real estate, holding property without any ad ... to possession or title by another. marketable title :: n. the title to real property which has no encumbr ... e. See also: contract real property contingent remainder :: n. an interest, particularly in real estate proper ... contingent interest future interest leasehold :: n. the real estate which is the subject of a lease ... sehold. See also: condominium lease parcel :: n. a defined piece of real estate, usually resulti ... See also: real estate real property guardian :: n. a person who has been appointed by a judge to t ... torship. See also: conservator ward convey :: v. to transfer title (official ownership) to real ... ion conveyance deed grantee grantor trespass :: n. entering another person's property without perm ... for an illegal purpose is a crime. tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange exception in deed :: n. a notation in a deed of title to real property ... the transfer (conveyance) of title. trade fixture :: n. a piece of equipment on or attached to the real ... uch damage. See also: fixture trade access :: n. 1) in real estate the right and ability to get ... See also: DNA egress paternity suit excise :: n. a tax upon manufacture, sale or for a business ... s redundantly called an excise tax. execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution fair market value :: n. the amount for which property would sell on the ... so: appraise appraiser market value expectancy :: n. a possibility of future enjoyment of something ... o: distribution remainder reversion executory interest :: n. an interest in property (particularly real esta ... or never, if certain events occur. mechanic's lien :: n. the right of a craftsman, laborer, supplier, ar ... ll sue for the debt. See also: lien escrow instructions :: n. the written instructions by buyer and seller of ... ir agents. See also: closing escrow merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other. eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation tenancy in common :: n. title to property (usually real property, but i ... on. See also: joint tenancy tenancy limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership accretion :: n. 1) in real estate, the increase of the actual l ... cted event. See also: probate trust lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order. malpractice :: n. An act or continuing conduct of a professional ... eed. See also: errors and omissions fiduciary :: 1) n. from the Latin fiducia, meaning "trust," a p ... lation fiduciary relationship trust title :: n. 1) ownership of real property or personal prope ... ink slip real property title search fixture :: n. a piece of equipment which has been attached to ... ary repair. See also: trade fixture lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer confidential relation :: n. a relationship in which one person has confiden ... remely obvious. See also: fiduciary warranty :: n. a written statement of good quality of merchand ... of the contract. See also: warrant insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder vested remainder :: n. the absolute right to receive title after a pre ... pass to him. See also: vest vested reserve :: v. to keep for oneself a right or a portion of the ... e to another. See also: reservation laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.). professional corporation :: n. a corporation formed for the purpose of conduct ... rofessionals. See also: corporation restriction :: n. any limitation on activity, by statute, regulat ... rated into the title of each owner. property :: n. anything that is owned by a person or entity. P ... rty real property separate property attorney-in-fact :: n. someone specifically named by another through a ... cument. See also: power of attorney administrator :: n. the person appointed by the court to handle the ... e also: administer executor probate all the estate I own :: n. a phrase from a poorly drafted will which means ... he will was written. See also: will joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial affix :: v. 1) to attach something to real estate in a perm ... al, as affix a signature or a seal. joint venture :: n. an enterprise entered into by two or more peopl ... s terminated. See also: partnership abeyance :: 1) n. when the owner- ship of property has not bee ... 2) legal jargon for "undetermined." estate by entirety :: n. tenancy by the entirety ... n. tenancy by the entirety abstract of title :: n. the written report on a title search which show ... e also: chain of title title report abstract of judgment :: n. a written summary of a judgment which states ho ... aying the debt. See also: levy lien appraise :: v. to professionally evaluate the value of propert ... surance claims. See also: appraiser ancillary administration :: n. administration of an estate's assets in another ... or "subordinate." See also: probate holdover tenancy :: n. the situation when a tenant of real estate cont ... to a lawsuit for unlawful detainer. probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will power of acceptance :: n. the ability to accept an offer and thus create ... ecide to accept the original offer. chain of title :: n. the succession of title ownership to real prope ... title conveyance foreclosure title cashier's check :: n. a check issued by a bank on its own account for ... ansfers, tax payments and the like. power of attorney :: n. a written document signed by a person giving an ... y, as in a real estate transaction. closing :: n. the final step in the sale and purchase of real ... company, escrow holder or attorney. hotchpot :: n. the putting together, blending or mixing of var ... t in the hotchpot and then divided. hostile possession :: n. occupancy of a piece of real property coupled w ... verse possession quiet title action savings and loan :: n. a banking and lending institution, chartered ei ... vings into the home finance market. possessory interest :: n. in real estate, the intent and right of a perso ... o: possess possession real property collateral :: 1) n. property pledged to secure a loan or debt, u ... ral to the Colorado divorce action. bequeath :: v. to give personal property under provisions of a ... s of a will. See also: bequest will incorporeal :: adj. referring to a thing which is not physical, s ... his is distinguished from tangible. will :: n. a written document which leaves the estate of t ... will and testament probate testator broker :: n. in general, a person who arranges contracts bet ... security ("hocked") at high rates. premises :: n. 1) in real estate, land and the improvements on ... t). See also: real estate structure land :: n. real property, real estate (and all that grows ... See also: real estate real property in kind :: adj. referring to payment, distribution or substit ... . See also: distribution trust will vacate :: v. 1) for a judge to set aside or annul an order o ... of real estate and cease occupancy. triple net lease :: n. a lease in which the lessee's (tenant's) rent i ... ers and malls. See also: lease rent tort :: n. from French for "wrong," a civil wrong or wrong ... nce slander trespass wrongful death widow's election :: n. the choice a widow makes between accepting what ... nt and distribution succession will use :: n. the right to enjoy the benefits of real propert ... ay it is only of academic interest. unlawful detainer :: n. 1) keeping possession of real property without ... Thirty-day notice three-day notice undisclosed principal :: n. a person who uses an agent for his/her negotiat ... dispute. See also: agent principal unconstitutional :: adj. referring to a statute, governmental conduct, ... ee also: constitution Supreme Court vendee :: n. a buyer, particularly of real property. ... yer, particularly of real property. surrender :: v. 1) to turn over possession of real property, ei ... lf up to law enforcement officials. running with the land :: adj. permanently part of the title (ownership) to ... title (ownership) to real property. rule against perpetuities :: n. the legal prohibition against tying up property ... . See also: restraint on alienation ripe :: adj. in constitutional law, referring to a law cas ... or more issues raised by the case. satisfaction of judgment :: n. a document signed by a judgment creditor (the p ... ord. See also: abstract of judgment satisfaction of mortgage :: n. a document signed by a lender acknowledging tha ... id off the debt. See also: mortgage self-dealing :: n. in the stock market, using secret "inside" info ... ederal Securities and Exchange Act. seisin :: (sees-in) n. an old feudal term for having both po ... perty). See also: fee simple seized search :: v. 1) to examine another's premises (including a v ... e search and seizure search warrant right :: 1) n. an entitlement to something, whether to conc ... e also: civil rights marital rights reversion :: n. in real property, the return to the grantor or ... lled "reverter." See also: reverter reliction :: n. gradual change of water line on real property w ... more dry land. See also: accretion release :: 1) v. to give up a right as releasing one from his ... the writing that grants a release. reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation. remainderman :: n. the person who will receive a remainder in real ... real property. See also: remainder rent :: 1) v. to hire an object or real property for a per ... ice. See also: lease month-to-month restrictive covenant :: n. 1) an agreement included in a deed to real prop ... o: covenant that runs with the land restraint on alienation :: n. an attempt in a deed or will to prevent the sal ... enant rule against perpetuities use rental value :: n. the amount which would be paid for rental of si ... alimony to be paid. See also: rent service by publication :: n. serving a summons or other legal document in a ... perty. See also: service of process wrongful death :: n. the death of a human being as the result of a w ... ual beneficiaries (family members). tenancy at will :: n. occupation of real property owned by another un ... right to occupy. See also: tenancy tenancy :: n. the right to occupy real property permanently, ... rety tenancy in common tenant title tangible property :: n. physical articles (things) as distinguished fro ... operty personal property personalty tenant :: n. a person who occupies real property owned by an ... rental payments. See also: tenancy tenement :: n. 1) a term found in older deeds or in boiler-pla ... d by stairways. See also: structure title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance title insurance :: n. a policy issued by an insurance company guarant ... : chain of title title title search tenure :: n. 1) in real property, the right to possess the p ... e a probationary period has passed. syndicate :: n. a joint venture among individuals and/or corpor ... l dissolve. See also: joint venture survivorship :: n. the right to receive full title or ownership du ... onvenience. See also: joint tenancy statutory rape :: n. sexual intercourse with a female below the lega ... majority minority molestation rape statute of frauds :: n. law in every state which requires that certain ... ulent title claims. See also: fraud springing interest :: n. a future right to title to real property create ... lso: future interest interest title straw man :: n. 1) a person to whom title to property or a busi ... a trail will mislead hunting dogs). subcontractor :: n. a person or business which has a contract (as a ... ependent contractor mechanic's lien vendor :: n. a seller, particularly of real property. ... ler, particularly of real property. substantial performance :: n. in the law of contracts, fulfillment of the obl ... also: contract specific performance subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage title search :: n. the examination of county records for the prope ... e escrow lien title title insurance aliquot :: (al-ee-kwoh) adj. a definite fractional share, us ... trust assets. See also: share marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust letters testamentary :: n. a document issued by the court clerk which stat ... te. See also: administrator probate letters of administration :: n. a document issued by the court clerk which stat ... estate. See also: executor probate trustee in bankruptcy :: n. a person appointed by a bankruptcy court to sup ... f the debtors. See also: bankruptcy marshal :: 1) n. a federal court official who may serve paper ... tablish priorities among creditors. misappropriation :: n. the intentional, illegal use of the property or ... mbezzlement fiduciary larceny theft next of kin :: n. 1) the nearest blood relatives of a person who ... See also: descent and distribution trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee trustor net :: : n., adj. the amount of money or value remaining ... or net estate. See also: net estate mutual wills :: n. wills made by two people (usually spouses, but ... r the other person making the will. intestacy :: n. the condition of having died without a valid wi ... e. See also: intestate probate will inter vivos trust :: n. a trust created by a writing (declaration of tr ... nter vivos testamentary trust trust heir apparent :: n. the person who is expected to receive a share o ... isinherited by will. See also: heir guardian ad litem :: n. a person appointed by the court only to take le ... awsuit is filed. See also: ad litem gift :: n. the voluntary transfer of property (including m ... ift tax unified estate and gift tax generation skipping :: adj., adv. referring to gifts made through trusts ... to a grandchild without a gift tax. in re :: prep. short for "in regard to" or concerning. Ofte ... e Adoption of Marcus McGillicuddy." in terrorem clause :: (in tehr-roar-em)n. from Latin for "in fear," a pr ... e gift. See also: will will contest inheritance :: n. whatever one receives upon the death of a relat ... intestacy intestate succession will inherit :: v. to receive all or a portion of the estate of an ... intestacy intestate succession will incompetent :: adj. 1) referring to a person who is not able to m ... n incompetency incompetent evidence omnibus clause :: n. 1) an automobile insurance policy clause which ... he beneficiaries named in the will. paralegal :: n. a non-lawyer who performs routine tasks requiri ... h less than that for the attorneys. share and share alike :: adj. referring to the equal division of a benefit ... among the three surviving nephews. share :: n. 1) a portion of a benefit from a trust, estate, ... n issue of the corporation's stock. residue :: n. in a will, the assets of the estate of a person ... distribution residuary bequest will representative :: 1) n. an agent. 2) n. in probate law, a generic te ... of the conditions at the job site." special administrator :: n. a person appointed by the court in a probate pr ... or administrator. See also: probate succession :: n. the statutory rules of inheritance of a dead pe ... istribution." See also: inheritance testamentary disposition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will testamentary capacity :: n. having the mental competency to execute a will ... lso: competent undue influence will surrogate court :: n. a court in a few states (including New York) wi ... er probates, estates and adoptions. surrogate :: n. 1) a person acting on behalf of another or a su ... or probates, estates and adoptions. rejection of claim :: n. in probate law (administration of an estate of ... stion of administrative remedies"). receipt :: n. a written and signed acknowledgment by the reci ... the estate of someone who has died. possess :: v. to own, have title to, occupy, physically hold ... ng the estate. See also: possession petition :: 1) n. a formal written request to a court for an o ... dent. See also: divorce motion writ per stirpes :: (purr stir-peas) adj. Latin for "by roots," by rep ... descent and distribution trust will participate :: v. to invest and then receive a part or share, as ... he estate of a person who has died. predecease :: v. to die before someone else, as "if my brother, ... estate I give to his son, Eugene." pretermitted heir :: n. the child of a person who has written a will in ... cified $10,000 each. See also: heir ratable :: adj. taxable according to value, such as an estate ... lue, such as an estate or property. pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title. primogeniture :: n. from Latin for "first born," the ancient rule f ... oes not exist in the United States. extraordinary fees :: n. attorneys' fees claimed, usually in the adminis ... n. See also: attorney's fee probate executor :: n. the person appointed to administer the estate o ... sed decedent executrix probate will beneficiary :: n. a broad definition for any person or entity (li ... beneficiary third-party beneficiary attorney's fee :: n. the payment for legal services. It can take sev ... ees in the particular type of case. asset :: n. generally any item of property that has monetar ... ill and rights to market a product. testamentary trust :: n. a trust created by the terms of a will. Example ... vivos trust living trust trust will civil :: adj. 1) that part of the law that encompasses busi ... also: civil liberties civil rights reentry :: n. taking back possession and going into real prop ... ages. See also: landlord and tenant conservator :: n. a guardian and protector appointed by a judge t ... ies. See also: conservatee guardian conflict of law :: n. a situation in which both state and federal law ... y arose. See also: forum preemption collusion :: n. where two persons (or business entities through ... seball team owners. See also: fraud codicil :: n. a written amendment to a person's will, which m ... the writer. See also: probate will after-acquired title :: n. title to property acquired after the owner atte ... ed title goes automatically to Sam. adverse party :: n. the opposite side in a lawsuit. Sometimes when ... the court rules the will was legal. writ of execution :: n. a court order to a sheriff to enforce a judgmen ... ing plaintiff). See also: execution waste :: n. 1) any damage to real property by a tenant whic ... ch may include poisonous effluents. warranty deed :: n. a deed to real property which guarantees that t ... : grant deed quitclaim deed warrant warrant :: 1) n. an order (writ) of a court which directs a l ... e search and seizure search warrant zoning :: n. a system of developing a city or county plan in ... овской гарантии . |