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Dictionary of Law |
rental value :: legal definitionRental value - n. the amount which would be paid for rental of similar property in the same condition in the same area. Evidence of rental value becomes important in lawsuits in which loss of use of real property or equipment is an issue, and the rental value is the "measure of damages." In divorce cases in which one of the spouses stays in the family residence, the use of the property has rental value which is considered in balancing the income of the parties, determining division of property or setting the amount of alimony to be paid. See also: rent 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 ad valorem :: adj. Latin for "based on value," which applies to ... per parcel. See also: property tax appraiser :: n. a professional who makes appraisals of the valu ... isal Institute). See also: appraise assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property. capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange common property :: n. 1) real property owned by "tenants in common," ... e, like parks and national forests. conversion :: n. a civil wrong (tort) in which one converts anot ... the crime of theft. See also: theft covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant depreciation :: n. the actual or theoretical gradual loss of value ... e early years of use (accelerated). 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 equity :: n. 1) a venerable group of rights and procedures t ... ry enjoin equitable injunction writ fair market value :: n. the amount for which property would sell on the ... so: appraise appraiser market value 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 grandfather clause :: n. 1) a clause in a statute or zoning ordinance (p ... Such laws are now unconstitutional. interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging. license :: 1) n. governmental permission to perform a particu ... eement. See also: licensee licensor literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright 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." mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed non-conforming use :: n. the existing use (residential, commercial, agri ... eneral plan grandfathered in zoning nuisance :: n. the unreasonable, unwarranted and/or unlawful u ... evening). See also: public nuisance possibility of a reverter :: n. the potential that the title to a real property ... further issue. See also: reversion prescription :: n. the method of acquiring an easement upon anothe ... ty. See also: prescriptive easement property tax :: n. an annual governmental tax on real property or ... are made. See also: ad valorem tax quitclaim deed :: n. a real property deed which transfers (conveys) ... also: convey deed grant deed title real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion 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 spot zoning :: n. a provision in a general plan which benefits a ... . See also: grandfathered in zoning tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax theft :: n. the generic term for all crimes in which a pers ... rglary embezzlement larceny robbery trespass :: n. entering another person's property without perm ... for an illegal purpose is a crime. use :: n. the right to enjoy the benefits of real propert ... ay it is only of academic interest. 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 - Rrace to the courthouse :: n. slang for the rule that the first deed, deed of ... e also: deed judgment lien mortgageRacketeer Influenced Corrupt Organization (RICO) statue :: n. a federal law which makes it a crime for organi ... s to operate legitimate businesses. racketeering :: n. the federal crime of conspiring to organize to ... ("organized crime" or "the Mafia"). ransom :: 1) n. money paid to a kidnapper in demand for the ... ive. See also: abduction kidnapping rape :: 1) n. the crime of sexual intercourse (with actual ... See also: date rape statutory rape ratable :: adj. taxable according to value, such as an estate ... lue, such as an estate or property. ratification :: n. confirmation of an action which was not pre-app ... mployee). See also: agent principal ratify :: v. to confirm and adopt the act of another even th ... ligation. See also: agent principal rational basis :: n. a test of constitutionality of a statute, askin ... imate and constitutional objective. ready, willing and able :: adj. fully prepared to act, as in performing a con ... o act, as in performing a contract. 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 party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust. 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 reasonable :: adj., adv. in law, just, rational, appropriate, or ... ost of other actions or activities. reasonable care :: n. the degree of caution and concern for the safet ... . See also: duty of care negligence reasonable doubt :: n. not being sure of a criminal defendant's guilt ... also: preponderance of the evidence reasonable reliance :: n. particularly in contracts, what a prudent perso ... the following:." See also: contract reasonable speed :: n. the speed of an automobile determined to be low ... e speed limit. See also: negligence |