Brier Hill Timeshare Lawyer, New York

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LEGAL TERMS

REAL PROPERTY

Another term for real estate. It includes land and things permanently attached to the land, such as trees, buildings, and stationary mobile homes. Anything that... (more...)
Another term for real estate. It includes land and things permanently attached to the land, such as trees, buildings, and stationary mobile homes. Anything that is not real property is termed personal property.

BALLOON PAYMENT

A large final payment due at the end of a loan, typically a home or car loan, to pay off the amount your monthly payments didn't cover. Many states prohibit bal... (more...)
A large final payment due at the end of a loan, typically a home or car loan, to pay off the amount your monthly payments didn't cover. Many states prohibit balloon payments in loans for goods or services that are primarily for personal, family or household use, or require the lender to let you refinance the balloon payment before forcing collection.

ASYLUM

A legal status granted to an individual who is in the United States and fears political persecution if he or she is forced to return to their home country.

BREACH OF CONTRACT

A legal claim that one party failed to perform as required under a valid agreement with the other party. For example you might say, 'The roofer breached our con... (more...)
A legal claim that one party failed to perform as required under a valid agreement with the other party. For example you might say, 'The roofer breached our contract by using substandard supplies when he repaired my roof.'

QUIET ENJOYMENT

The right of a property owner or tenant to enjoy his or her property without interference. Disruption of quiet enjoyment may constitute a nuisance. Leases and r... (more...)
The right of a property owner or tenant to enjoy his or her property without interference. Disruption of quiet enjoyment may constitute a nuisance. Leases and rental agreements often contain a 'covenant of quiet enjoyment,' expressly obligating the landlord to see that tenants have the opportunity to live undisturbed.

EMINENT DOMAIN

The power of the federal or state government to take private property for a public purpose, even if the property owner objects. The Fifth Amendment to the Unite... (more...)
The power of the federal or state government to take private property for a public purpose, even if the property owner objects. The Fifth Amendment to the United States Constitution allows the government to take private property if the taking is for a public use and the owner is 'justly compensated' (usually, paid fair market value) for his or her loss. A public use is virtually anything that is sanctioned by a federal or state legislative body, but such uses may include roads, parks, reservoirs, schools, hospitals or other public buildings. Sometimes called condemnation, taking or expropriation.

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.

COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP

A way for married couples to hold title to property, available in Arizona, California, Nevada, Texas and Wisconsin. It allows one spouse's half-interest in comm... (more...)
A way for married couples to hold title to property, available in Arizona, California, Nevada, Texas and Wisconsin. It allows one spouse's half-interest in community property to pass to the surviving spouse without probate.

HOMESTEAD DECLARATION

A form filed with the county recorder's office to put on record your right to a homestead exemption. In most states, the homestead exemption is automatic--that ... (more...)
A form filed with the county recorder's office to put on record your right to a homestead exemption. In most states, the homestead exemption is automatic--that is, you are not required to record a homestead declaration in order to claim the homestead exemption. A few states do require such a recording, however.

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