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Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Life estate: An estate lasting for the natural life of the grantee, called a "life tenant". If a life estate can be sold, a sale does not change its duration, which is limited by the natural life of the original grantee. A life estate per autre vie is held by one person for the natural life of another person.
In a conveyance or will, words which have the effect of marking the duration of an estate are termed "words of limitation". Thus, in a grant to A and his heirs, the words "and his heirs” are words of limitation, because they show that A is to take an estate in fee-simple, and do not give his heirs anything. [35]
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
Most legal systems distinguish between different types of property, especially between land (immovable property, estate in land, real estate, real property) and all other forms of property—goods and chattels, movable property or personal property, including the value of legal tender if not the legal tender itself, as the manufacturer rather ...
This is a list of abbreviations used in law and legal documents. It is common practice in legal documents to cite other publications by using standard abbreviations for the title of each source. Abbreviations may also be found for common words or legal phrases.
Often used in the phrase "Drinking the Kool-Aid," referring to the adoption of a dangerous idea because of peer pressure. [140] Koozie: Can cooler: Scribe OpCo, Inc. (dba The Koozie Group) "Koozie" is commonly used as a generic term for all foam or neoprene insulators that cover a container, usually a can or a bottle, in order to keep the ...
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