The Law Dictionary for Everyone
The term real property refers to land, and any buildings, structures, and equipment permanently attached or fixed to the land. Ownership of real property also addresses ownership of whatever is growing on, or lies beneath the land. Often referred to as “real estate,” real property is one of the most important, and most lucrative, items bought, sold, and traded in […]
Read moreA trust is an estate planning tool used by people to protect their assets during their lifetime, and to dictate how those assets are to be disbursed upon their death. A family trust, also known as a “by-pass trust,” is a trust created by a married couple with a large estate for the purpose of avoiding federal estate taxes when […]
Read moreCounterfeiting is a criminal offense that involves fraudulently manufacturing and distributing an item of lesser value than the genuine product, usually for the purpose of monetary gain. Counterfeiting is commonly seen in the form of counterfeiting money, including currency and coins, but also involves the fraudulent production of copies of valuable digital media, such as CDs and DVDs, as well […]
Read moreA trust is an estate planning device created by an individual to manage his assets, and to specify how those assets are to be distributed after his death. This individual, called a “Trustor,” transfers ownership of as much of his real and personal property, as well as financial assets, as he desires into the trust to be managed by a […]
Read moreThe legal term dismissal refers to a ruling by a judge that the plaintiff’s lawsuit is thrown out. A dismissal is effective immediately on pronouncement by the judge, and no further evidence, testimony, or imploring will be heard. The judge has the power to dismiss a case at any point during the proceedings, before, during, or after a trial, if […]
Read moreA class action lawsuit is a civil legal action in which one or more individuals sue a person or entity on behalf of a larger group or class of people. Class action lawsuits are commonly used to address situations in which a large number of individuals have been injured or wronged by the defendant in the same manner. For example, […]
Read moreA warranty deed is a deed in which the seller, also known as the “grantor,” guarantees to the buyer, also known as the “grantee,” that he holds clear title to the property, and that he has a legal right to sell it. A warranty deed is the most common type of deed used to transfer real property from a seller […]
Read moreThe legal term assault refers to an attempt by one person to cause serious bodily harm to another person. This may be through a deliberate act, or through irresponsible actions that show a deliberate lack of respect for the victim’s safety. Assault is also defined as carrying out threat of bodily harm, or having the ability to carry out the […]
Read moreA personal property tax is a levy imposed on a person’s property. The tax is levied by the jurisdiction where the property is located and it includes tangible property that is not real property. Tangible property includes movable man-made objects that have a physical form and can be seen and touched. Not every state requires personal property tax to be […]
Read moreA trust is an estate planning tool created to manage an individual’s assets for the benefit of others. A special needs trust is a unique type of trust which enables a mentally or physically disabled, or chronically ill person, to receive certain income without negatively affecting his eligibility for needs-based public assistance. These government assistance programs include, among others, Social […]
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