An increase in value. Appreciated property is property that has gone up in value since it was acquired.
SHARED EQUITY MORTGAGE
A home loan in which the lender gets a share of the equity of the home in exchange for providing a portion of the down payment. When the home is later sold, the... (more...)
A home loan in which the lender gets a share of the equity of the home in exchange for providing a portion of the down payment. When the home is later sold, the lender is entitled to a portion of the proceeds.
IP
See intellectual property law.
OFFENSIVE COLLATERAL ESTOPPEL
A doctrine that prevents a defendant from re-litigating an issue after it has been lost. For example, if your neighbor sues you for putting up a fence on his la... (more...)
A doctrine that prevents a defendant from re-litigating an issue after it has been lost. For example, if your neighbor sues you for putting up a fence on his land and the court rules that your fence extends beyond your property line, you can't later file your own lawsuit seeking a declaration that the property line is incorrectly drawn.
RECORDING
The process of filing a copy of a deed or other document concerning real estate with the land records office for the county in which the land is located. Record... (more...)
The process of filing a copy of a deed or other document concerning real estate with the land records office for the county in which the land is located. Recording creates a public record of changes in ownership of all property in the state.
LIQUID ASSETS
Business property that can be quickly and easily converted into cash, such as stock, bank accounts and accounts receivable.
CONSTRUCTIVE EVICTION
When a landlord provides housing that is so substandard that a landlord has legally evicted the tenant. For example, if the landlord refuses to provide heat or ... (more...)
When a landlord provides housing that is so substandard that a landlord has legally evicted the tenant. For example, if the landlord refuses to provide heat or water or refuses to clean up an environmental health hazard, the tenant has the right to move out and stop paying rent, without incurring legal liability for breaking the lease.
ELEMENTS (OF A CASE)
The component parts of a legal claim or cause of action. To win a lawsuit, a plaintiff must prove every element of a legal claim. For example, here are the elem... (more...)
The component parts of a legal claim or cause of action. To win a lawsuit, a plaintiff must prove every element of a legal claim. For example, here are the elements of a breach of contract claim: There was a valid contract. The plaintiff performed as specified by the contract. The defendant failed to perform as specified by the contract. The plaintiff suffered an economic loss as a result of the defendant's breach of contract.
Michels Pipeline Construction and Bituminous Casualty Corporation (together, Michels) appeal
from an order affirming a Labor and Industry Review Commission (LIRC) decision requiring Michels
to pay $13,000 for improperly applying a social security offset to an injured employee's ...
... claims. In May 1996, after receiving the drawings, the Stuarts entered into a second
contract for the remodeling and for the construction of their home addition (Remodeling
Contract), which called for a total payment of $278,000. ...
... Stat. § 102.56(1). The construction of a statute and its application to undisputed facts are questions
of law that we generally review independently. ... In determining the ordinary meaning of undefined
words, "[w]e may consult a dictionary to aid in statutory construction." Id. ...