Rothschild Foreclosure Lawyer, Wisconsin

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.

A form filed with the county recorder's office to put on record your right to a homestead exemption. In most states, the homestead exemption is automatic--that is, you are not required to record a homestead declaration in order to claim the homestead exemption. A few states do require such a recording, however.

A gift of property. The IRS allows you to take an income tax deduction for the value of donations made to charitable organizations who are recognized as such by the IRS.

Compensation to third parties who are injured or whose property is damaged due to the fault of the insurance holder. You may have liability insurance for your car or your home, or to cover actions you take in the course of your profession. Liability polices are sometimes called 'third-party policies.'

The causing of harm by disrupting something that belongs to someone else -- for example, interfering with a contractual relationship so that one party fails to deliver goods on time.

Principles of international law so fundamental that no nation may ignore them or attempt to contract out of them through treaties. For example, genocide and participating in a slave trade are thought to be jus cogens.

A computer-based service that provides real estate professionals with detailed listings of most homes currently on the market. Much of the information can now be obtained by the public through websites like www.realtor.com.

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.

An oral or written agreement (a contract) between two people concerning the use by one of the property of the other. A person can lease real estate (such as an apartment or business property) or personal property (such as a car or a boat). A lease should cover basic issues such as when the lease will begin and end, the rent or other costs, how payments should be made, and any restrictions on the use of the property. The property owner is often called the 'lessor,' and the person using the property is called the 'lessee.'