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LEGAL TERMS

EXCLUSIVE LICENSE

A valid contract in which a copyright owner authorizes another person or entity (called the licensee) to exclusively exercise one or more of the rights (or port... (more...)

A valid contract in which a copyright owner authorizes another person or entity (called the licensee) to exclusively exercise one or more of the rights (or portion of such rights) that belong to the copyright owner under the copyright. The licensee is said to 'own' the rights granted in the license and is referred to as a copyright owner.

ENCROACHMENT

The building of a structure entirely or partly on a neighbor's property. Encroachment may occur due to faulty surveying or sheer obstreperousness on the part of... (more...)

The building of a structure entirely or partly on a neighbor's property. Encroachment may occur due to faulty surveying or sheer obstreperousness on the part of the builder. Solutions range from paying the rightful property owner for the use of the property to the court-ordered removal of the structure.

EXCULPATORY CLAUSE

A provision in a lease that absolves the landlord from responsibility for all damages, injuries or losses occurring on the property, including those caused by t... (more...)

A provision in a lease that absolves the landlord from responsibility for all damages, injuries or losses occurring on the property, including those caused by the landlord's actions. Most states have laws that void exculpatory clauses in rental agreements, which means that a court will not enforce them.

ADVERSE POSSESSION

A means by which one can legally take another's property without paying for it. The requirements for adversely possessing property vary between states, but usua... (more...)

A means by which one can legally take another's property without paying for it. The requirements for adversely possessing property vary between states, but usually include continuous and open use for a period of five or more years and paying taxes on the property in question.

DEED IN LIEU (OF FORECLOSURE)

A means of escaping an overly burdenome mortgage. If a homeowner can't make the mortgage payments and can't find a buyer for the house, many lenders will accept... (more...)

A means of escaping an overly burdenome mortgage. If a homeowner can't make the mortgage payments and can't find a buyer for the house, many lenders will accept ownership of the property in place of the money owed on the mortgage. Even if the lender won't agree to accept the property, the homeowner can prepare a quitclaim deed that unilaterally transfers the homeowner's property rights to the lender.

NOVATION

The substitution of a new contract for an old one. A novation may change one of the parties to the contract or the duties that must be performed by the original... (more...)

The substitution of a new contract for an old one. A novation may change one of the parties to the contract or the duties that must be performed by the original parties.

EXECUTRIX

An old-fashioned term for a female executor--the person named in a will to handle the distribution of the deceased person's property. Now, whether male or femal... (more...)

An old-fashioned term for a female executor--the person named in a will to handle the distribution of the deceased person's property. Now, whether male or female, this person is called either the executor or the personal representative.

Polk County, NC Real Estate Lawyers

SPONSORED LAWYERS

Robert J. Mccune

William A. Mcfarland

Phillip R. Feagan

Lora Turbeville Baker

William A. Mcfarland

Adams Bailey Nager

Elizabeth Fuller Buchanan

W Rainey Greaves Loororaine

Lee Lawson Stockdale

Judge Benjamin C. Abney

TIPS

LEGAL TERMS

EXCLUSIVE LICENSE

ENCROACHMENT

EXCULPATORY CLAUSE

ADVERSE POSSESSION

DEED IN LIEU (OF FORECLOSURE)

NOVATION

EXECUTRIX

ASSIGNMENT

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