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Category: Laws Dictionary

accumulation trust

accumulation trust

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick’s benefit but stipulates that Nick will not get a penny until he get
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Author LawsLookup.comPosted on March 7, 2009Categories Laws Dictionary

administrator

administrator

A person appointed by a probate court to handle the distribution of property of someone who has died without a will, or with a will that fails to name someone to carry out this task.
administrator ad litem A person appointed by a pro
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Author LawsLookup.comPosted on March 7, 2009Categories Laws Dictionary

affirmative defense

affirmative defense

An explanation for a defendant’s actions that excuses or justifies his behavior. For example, acting in self-defense is a common affirmative defense to a charge of battery or homicide. Other affirmative defenses include insanity,
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Author LawsLookup.comPosted on March 7, 2009Categories Laws Dictionary

ancillary probate

ancillary probate

A probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate proceedings are necessary if the deceased person owned real estate in another state.

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Author LawsLookup.comPosted on March 7, 2009Categories Laws DictionaryTags estate, real estate

ARM

ARM

See adjustable rate mortgage.

See Topic: Real Estate
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Author LawsLookup.comPosted on March 7, 2009Categories Laws DictionaryTags estate, mortgage, real estate

attorney fees

attorney fees

The payment made to a lawyer for legal services. These fees may take several forms:
hourly
per job or service — for example, $350 to draft a will
contingency (the lawyer collects a percentage of any money she wins for her client
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Author LawsLookup.comPosted on March 7, 2009Categories Laws DictionaryTags legal

bailiff

bailiff

A court official usually classified as a peace officer (sometimes as a deputy sheriff, or marshal) and usually wearing a uniform. A bailiff’s main job is to maintain order in the courtroom. In addition, bailiffs often help court proceedings
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Author LawsLookup.comPosted on March 7, 2009Categories Laws Dictionary

Berne Convention

Berne Convention

An international treaty that standardizes basic copyright protection among all of the signatory countries, which currently number over 100. A member country will afford the same treatment to an author from another country as it does
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Author LawsLookup.comPosted on March 7, 2009Categories Laws Dictionary

bulk sales law

bulk sales law

A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets — that is, get rid of an unusually
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Author LawsLookup.comPosted on March 7, 2009Categories Laws Dictionary

CC&R

CC&R

See covenants, conditions & restrictions.

See Topic: Real Estate
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Author LawsLookup.comPosted on March 7, 2009Categories Laws DictionaryTags estate, real estate

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