A provision in a lease that absolves the landlord from responsibility for all damages, injuries or losses occurring on the property, including those caused by t... (more...)

A provision in a lease that absolves the landlord from responsibility for all damages, injuries or losses occurring on the property, including those caused by the landlord's actions. Most states have laws that void exculpatory clauses in rental agreements, which means that a court will not enforce them.

HOUSE CLOSING

The final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has b... (more...)

The final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has been recorded.

ESTATE

Generally, all the property you own when you die.

PRIVATE MORTGAGE INSURANCE (PMI)

Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less than the amount owed the lender (the mortga... (more...)

Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less than the amount owed the lender (the mortgage plus the costs of the sale). A home buyer who makes less than a 20% down payment may have to purchase PMI.

INDISPENSABLE PARTY

A person or entity (such as a corporation) that must be included in a lawsuit in order for the court to render a final judgment that will be just to everyone co... (more...)

A person or entity (such as a corporation) that must be included in a lawsuit in order for the court to render a final judgment that will be just to everyone concerned. For example, if a person sues his neighbors to force them to prune a tree that poses a danger to his house, he must name all owners of the neighboring property in the suit.

SEIZURE

The taking of physical evidence or property by law enforcement officials. This runs the gamut from taking blood for a drug test to impounding a car used in a ro... (more...)

The taking of physical evidence or property by law enforcement officials. This runs the gamut from taking blood for a drug test to impounding a car used in a robbery. The police must generally obtain a search warrant, or court order, before they can seize personal property.

YELLOW-DOG CONTRACT

An employment contract in which the employer forbids the employee to join a labor union. Yellow-dog contracts are not legally enforceable.

DEVISE

An old legal term that is generally used to refer to real estate left to someone under the terms of a will, or to the act of leaving such real estate. In some s... (more...)

An old legal term that is generally used to refer to real estate left to someone under the terms of a will, or to the act of leaving such real estate. In some states, 'devise' now applies to any kind of property left by will, making it identical to the term bequest. Compare legacy.

INVEST

(1) To formally grant power or authority to someone. For example, when the President of the United States is inaugurated, he is invested with all the powers of ... (more...)

(1) To formally grant power or authority to someone. For example, when the President of the United States is inaugurated, he is invested with all the powers of that office. (2) To contribute money to a business venture, or to buy property or securities, with the intention and expectation of making a profit.

SAMPLE LEGAL CASES

State v. Montgomery

... According to Montgomery, he lives in a rented trailer and has an agreement with the landlord to fix it up. The tiles on the floor are peeling up at the corners, and the can of acetone that the landlord had left to remove them with was nearly empty. ...

COMMONWEALTH REAL ESTATE SERV. v. Padilla

... We affirm the trial court's dismissal of the action because Harvest Manor waived its statutory right to evict Mr. Padilla under the Manufactured/Mobile Home Landlord-Tenant Act (MHLTA), chapter 59.20 RCW, by continuing to accept rent from Mr. Padilla after serving three 15-day ...

Little Mountain Estates Tenants Ass'n v. LME

... SCHINDLER, CJ. Â¶ 1 The Manufactured/Mobile Home Landlord Tenant Act (MHLTA), chapter 59.20 RCW, governs the legal rights and obligations between mobile home park landlords and tenants. ... Manufactured/Mobile Home Landlord Tenant Act. ...

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LEGAL TERMS

EXCULPATORY CLAUSE

HOUSE CLOSING

ESTATE

PRIVATE MORTGAGE INSURANCE (PMI)

INDISPENSABLE PARTY

SEIZURE

YELLOW-DOG CONTRACT

DEVISE

INVEST

SAMPLE LEGAL CASES

State v. Montgomery

COMMONWEALTH REAL ESTATE SERV. v. Padilla

Little Mountain Estates Tenants Ass'n v. LME

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