Morgan Land Use & Zoning Lawyer, Vermont

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Fred V. Peet
About | Practice Areas
Law Office of Fred V. Peet
55 Patchen Rd South Burlington, VT 05403» view map
Real Estate Law
Vermont’s Real Estate Law Source

The Law Offices of Fred V. Peet, P.C. concentrates its practice on residential and commercial real estate transactions.

800-960-0161
1. Fred V. Peet South Burlington, VT
  Attorney at Law - VT, 1993
  Vermont Law School J.D. 1993
2. AboutLaw Office of Fred V. Peet
  Vermont’s Real Estate Law Source
3. Practice AreasExpertise
  Real Estate Law
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LEGAL TERMS

YELLOW-DOG CONTRACT

An employment contract in which the employer forbids the employee to join a labor union. Yellow-dog contracts are not legally enforceable.

SETBACK

The distance between a property boundary and a building. A minimum setback is usually required by law.

CLEANING FEE

A nonrefundable fee charged by a landlord when a tenant moves in. The fee covers the cost of cleaning the rented premises after you move out, even if you leave ... (more...)

A nonrefundable fee charged by a landlord when a tenant moves in. The fee covers the cost of cleaning the rented premises after you move out, even if you leave the place spotless. Cleaning fees are illegal in some states and specifically allowed in others, but most state laws are silent on the issue. Landlords in every state are allowed to use the security deposit to clean a unit that is truly dirty.

PRIVATE MORTGAGE INSURANCE (PMI)

Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less than the amount owed the lender (the mortga... (more...)

Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less than the amount owed the lender (the mortgage plus the costs of the sale). A home buyer who makes less than a 20% down payment may have to purchase PMI.

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.

BEQUEST

The legal term for personal property (anything but real estate) left in a will.

INDEPENDENT CONTRACTOR

A legal category of worker defined by the Internal Revenue Service. The key to the definition is that, unlike employees, independent contractors retain control ... (more...)

A legal category of worker defined by the Internal Revenue Service. The key to the definition is that, unlike employees, independent contractors retain control over how the work they are hired to do gets done; the person or company paying the independent contractor controls only the outcome--the product or service.

CONSIDERATION

The basis of a contract. Consideration is a benefit or right for which the parties to a contract must bargain; the contract is founded on an exchange of one for... (more...)

The basis of a contract. Consideration is a benefit or right for which the parties to a contract must bargain; the contract is founded on an exchange of one form of consideration for another. Consideration may be a promise to perform a certain act -- for example, a promise to fix a leaky roof -- or a promise not to do something, such as build a second story on a house that will block the neighbor's view. Whatever its particulars, consideration must be something of value to the people who are making the contract.

DEVISE

An old legal term that is generally used to refer to real estate left to someone under the terms of a will, or to the act of leaving such real estate. In some s... (more...)

An old legal term that is generally used to refer to real estate left to someone under the terms of a will, or to the act of leaving such real estate. In some states, 'devise' now applies to any kind of property left by will, making it identical to the term bequest. Compare legacy.

Morgan Land Use & Zoning Lawyer, Vermont

Sponsored Law Firm

Law Office of Fred V. Peet

SPONSORED LAWYERS

Sonia E. Dunbar

David Polow

Stephen A. Reynes

Harold B. Stevens

Jesse M. Goldfine

TIPS

LEGAL TERMS

YELLOW-DOG CONTRACT

SETBACK

CLEANING FEE

PRIVATE MORTGAGE INSURANCE (PMI)

BASIS

BEQUEST

INDEPENDENT CONTRACTOR

CONSIDERATION

DEVISE

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