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Caspian Real Estate Other Lawyer, Michigan

Sponsored Law Firm


Includes: Commercial Leasing, Commercial Real Estate, Condominiums, Conveyancing, Housing & Urban Development, Premises Liability, Residential Real Estate, Title Insurance

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John L. Harrison

Real Estate, Estate Planning, Estate, Elder Law
Status:  In Good Standing           Licensed:  43 Years
CONTACT
Crystal Falls, MI 49920
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LEGAL TERMS

PROPERTY

See personal property, real estate, community property, separate property.

BORDER PATROL

The historical term for what is now called the Bureau of Customs and Border Protection ('BCBP'), a branch of the Department of Homeland Security. The primary fu... (more...)
The historical term for what is now called the Bureau of Customs and Border Protection ('BCBP'), a branch of the Department of Homeland Security. The primary functions of the BCBP/border patrol are to guard the borders from illegal entrants and to meet and question immigrants and visitors arriving at airports and other border stops.

SEVERANCE PAY

Funds, usually amounting to one or two months' salary, frequently offered by employers to workers who are laid off. No law compels employers to provide severanc... (more...)
Funds, usually amounting to one or two months' salary, frequently offered by employers to workers who are laid off. No law compels employers to provide severance pay, although the employer may be legally obligated to do so if it was promised in a contract or employees' handbook.

USE TAX

A tax imposed by a state to compensate for the sales tax lost when an item is purchased outside of the state, but is used within the state. For example, you buy... (more...)
A tax imposed by a state to compensate for the sales tax lost when an item is purchased outside of the state, but is used within the state. For example, you buy your car in a state that has no sales tax, but you live across the border in a state that does have a sales tax. When you bring your car home and register it in your state, the state taxing authority will bill you for the sales tax it would have collected had you bought the car within the state.

MARITAL DEDUCTION

A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions a... (more...)
A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions as an exemption) allows anyone, even a billionaire, to pass his or her entire estate to a surviving spouse without any tax at all.

SERVIENT TENEMENT

Property that is subject to use by another for a specific purpose. For example, a beachfront house that has a public walkway to the beach on its premises would ... (more...)
Property that is subject to use by another for a specific purpose. For example, a beachfront house that has a public walkway to the beach on its premises would be a servient tenement.

TENANCY IN COMMON

A way two or more people can own property together. Each can leave his or her interest upon death to beneficiaries of his choosing instead of to the other owner... (more...)
A way two or more people can own property together. Each can leave his or her interest upon death to beneficiaries of his choosing instead of to the other owners, as is required with joint tenancy. In some states, two people are presumed to own property as tenants in common unless they've agreed otherwise in writing.

ILLUSORY PROMISE

A promise that pledges nothing, because it is vague or because the promisor can choose whether or not to honor it. Such promises are not legally binding. For ex... (more...)
A promise that pledges nothing, because it is vague or because the promisor can choose whether or not to honor it. Such promises are not legally binding. For example, if you get a new job and promise to work for three years, unless you resign sooner, you haven't made a valid contract and can resign or be fired at any time.

LEASE OPTION

A contract in which an owner leases her house (usually for one to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to b... (more...)
A contract in which an owner leases her house (usually for one to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to buy the house at the end of the lease period for a price established in advance. A lease option is often a good arrangement for a potential home buyer because it lets him move into a house he may buy without having to come up with a down payment or financing at that time.

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