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Hypothec (/ h aɪ ˈ p ɒ θ ɪ k, ˈ h aɪ p ɒ θ-/; German: Hypothek, French: hypothèque, from Lat. hypotheca, from Gk. ὑποθήκη: hypothēkē), sometimes tacit hypothec, is a term used in civil law systems (e.g. the law of most of Continental Europe) or to refer to a registered real security of a creditor over real estate, but under some jurisdictions it may additionally cover ships ...
When the debt is fully paid, the beneficiary is required by law to promptly direct the trustee to transfer legal title to the property back to the trustor by reconveyance, thereby releasing the security for the debt. [6] Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California ...
Attachment is a legal process by which a court of law, at the request of a creditor, designates specific property owned by the debtor to be transferred to the creditor, or sold for the benefit of the creditor. [1] A wide variety of legal mechanisms are employed by debtors to prevent the attachment of their assets.
(Property)", usually followed by a notice by publication seeking claimants to title to the property; [citation needed] see examples below. This last style is awkward because in law, only a person may be a party to a judicial proceeding – hence the more common in personam style – and a non-person would at least require a guardian appointed ...
In trust law, an asset-protection trust is any form of trust which provides for funds to be held on a discretionary basis. Such trusts are set up in an attempt to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts are therefore frequently proscribed or limited in their effects by governments and ...
(The Center Square) – Illinois’ pension debt compared to personal income is the second worst in the nation. Fitch Ratings reviewed pension funds for public employee retirees from every state ...
Used in the context of a case against property, as opposed to a particular person. See also in rem jurisdiction. Cf. in personam. / ɪ n ˈ r ɛ m / in situ: in position Often used in the context of decisions or rulings about a property or thing "left in place" after the case as it was before. / ɪ n ˈ s aɪ tj uː, ɪ n ˈ s ɪ tj uː / in ...
The Illinois Commission on Government Forecasting and Accountability reports the latest unfunded liability is $143.7 billion. That’s $1.5 billion higher than last year and the second highest ...
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