Elko Foreclosure Lawyer, Nevada

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Mitchell Reed Sussman
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Mitchell Reed Sussman & Associates
410 South Rampart Suite 390 Las Vegas, NV 89145» view map
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45+ Years of Experience

The Law offices of Mitchell Reed Sussman & Associates has been in business for over 45+ years specializing in real estate litigation.

800-814-6930
1. Mitchell Reed Sussman Las Vegas, NV
  Attorney at Law- CA, 1977
2. AboutMitchell Reed Sussman & Associates
  45+ Years of Experience
3. Practice AreasExpertise
  Timeshare
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LEGAL TERMS

LEGACY

An outdated legal word meaning personal property left by a will. The more common term for this type of property is bequest. Compare devise.

HOLD HARMLESS

In a contract, a promise by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the fir... (more...)

In a contract, a promise by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the first party. For example, many leases include a hold harmless clause in which the tenant agrees not to sue the landlord if the tenant is injured due to the landlord's failure to maintain the premises. In most states, these clauses are illegal in residential tenancies, but may be upheld in commercial settings.

QUASI-COMMUNITY PROPERTY

A form of property owned by a married couple. If a couple moves to a community property state from a non-community property state, property they acquired togeth... (more...)

A form of property owned by a married couple. If a couple moves to a community property state from a non-community property state, property they acquired together in the non-community property state may be considered quasi-community property. Quasi-community property is treated just like community property when one spouse dies or if the couple divorces.

HOMESTEAD

(1) The house in which a family lives, plus any adjoining land and other buildings on that land. (2) Real estate which is not subject to the claims of creditors... (more...)

(1) The house in which a family lives, plus any adjoining land and other buildings on that land. (2) Real estate which is not subject to the claims of creditors as long as it is occupied as a home by the head of the household. After the head of the family dies, homestead laws often allow the surviving spouse or minor children to live on the property for as long as they choose. (3) Land acquired out of the public lands of the United States. The term 'homesteaders' refers to people who got their land by settling it and making it productive, rather than purchasing it outright.

SUBSTITUTED SERVICE

A method for the formal delivery of court papers that takes the place of personal service. Personal service means that the papers are placed directly into the h... (more...)

A method for the formal delivery of court papers that takes the place of personal service. Personal service means that the papers are placed directly into the hands of the person to be served. Substituted service, on the other hand, may be accomplished by leaving the documents with a designated agent, with another adult in the recipient's home, with the recipient's manager at work or by posting a notice in a prominent place and then using certified mail to send copies of the documents to the recipient.

BASIS

For income and capital gains tax purposes, the value that is used to determine profit or loss when property is sold. Often the basis is what you paid for the pr... (more...)

For income and capital gains tax purposes, the value that is used to determine profit or loss when property is sold. Often the basis is what you paid for the property, 'adjusted' to reflect improvements made or damage incurred while you own the property. See stepped-up basis, carryover basis.

UNIFORM TRANSFERS TO MINORS ACT

A statute, adopted by almost all states, that provides a method for transferring property to minors and arranging for an adult to manage it until the child is o... (more...)

A statute, adopted by almost all states, that provides a method for transferring property to minors and arranging for an adult to manage it until the child is old enough to receive it. See custodian.

ASSIGNEE

A person to whom a property right is transferred. For example, an assignee may take over a lease from a tenant who wants to permanently move out before the leas... (more...)

A person to whom a property right is transferred. For example, an assignee may take over a lease from a tenant who wants to permanently move out before the lease expires. The assignee takes control of the property and assumes all the legal rights and responsibilities of the tenant, including payment of rent. However, the original tenant remains legally responsible if the assignee fails to pay the rent.

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.

Elko Foreclosure Lawyer, Nevada

Sponsored Law Firm

Mitchell Reed Sussman & Associates

SPONSORED LAWYERS

Diana J. Hillewaert

Kathleen H. Mcconnell

Eric Michael Morley

Robert J. Wines

Aaron Grant Gerber

John E. Marvel

Gary E. Di Grazia

TIPS

LEGAL TERMS

LEGACY

HOLD HARMLESS

QUASI-COMMUNITY PROPERTY

HOMESTEAD

SUBSTITUTED SERVICE

BASIS

UNIFORM TRANSFERS TO MINORS ACT

ASSIGNEE

EMINENT DOMAIN

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