Terms with Tag Contract
- Solicitor Information — Definition,
- When you apply for a mortgage you will need a law firm with a lawyer's name and their contact information which would typically include the office location, phone number, fax number and e-mail address.
- Special Purchase and Resale Agreements (SPRAs) — Abbreviation,
- Specific Performance — Definition,
- A remedy in a court of equity compelling a defendant to carry out the terms of an agreement or contract. It is available only where the remedy of damages cannot afford adequate relief to the plaintiff.
- Statute — Definition,
- A law established by an act of the legislature.
- Statutory Liability — Definition,
- Liability that is assigned by law and is not open for interpretation.
- Stock — Definition,
- A share of the ownership of a company.
- Sublet — Definition,
- An arrangement where a tenant leases property to a subtenant.
- Subrogation — Definition,
- When an insurance company has the right to take legal action against a third party for damages.
- Surrender Charge — Definition,
- A charge levied when a life insurance policyholder cancels his or her policy.
- Surrender Rights — Definition,
- The contractual right for a life insurance or annuity policyholder to cancel his or her policy.
- Survivorship — Definition,
- The right of a person to secure ownership by reason of his/her outliving someone with whom s/he shared undivided interest in the land.
- Sweat Equity — Definition,
- The value of the work put into a house by its owner. This can be used in place of a full down payment. Up to and including 50% of a down payment.
- Takeover — Definition,
- The purchase of a company by another.
- Tax-sheltered — Definition,
- A savings or investment plan that offers significant tax savings.
- Temporary Insurance Agreement (TIA) — Acronym, Important,
- Tenant — Definition,
- One who rents property.
- Term — Definition,
- The length of time you commit to repay a lender or bank at an agreed upon interest rate and payment schedule. The interest rate usually remains constant during this term unless the commitment states otherwise. For example, a five year fixed rate mortgage has a term of five years.
- Third Party Life Annuity Contracts (TPLAC) — Acronym,
- Title — Definition,
- Evidence of a person's right to possession ownership of a property.
- Title Defect — Definition,
- A legal claim by others to property, or the right to make demands upon an owner.
- Title Report — Definition,
- A report that reveals any competing claims, liens, or other problems relating to a property. A title report is required before title insurance will be issued. Also known as a "Preliminary Title Report" or "Prelim."
- Title Search — Definition,
- A check of public records to make sure that the owner of real property has the right to transfer ownership. A title search is designed to spot gaps in the chain of title, liens, problems with the legal description of the property, judgements against the owner, and the like.
- Tort — Definition,
- An act that causes harm or loss.
- Tort Law — Definition,
- Civil law or the laws that govern civil lawsuits.
- Tortfeasor — Definition,
- A party who commits a tort (a civil wrong).
- Trade Services Contract (TSK) — Acronym,
- Trust Company — Definition,
- A company that acts as a trustee (an entity that controls financial assets on the behalf of another).
- Two-Tier Healthcare — Definition,
- A situation where public healthcare is available to all people, but private healthcare can be purchased by those who want it.
- Unimproved Land Contract of Sale (ULCOS) — Acronym,
- Unisex Legislation — Definition,
- Laws that prevent insurers from using gender as a factor when calculating premiums.
10.
Solicitor Information -
Survivorship
Survivorship
