Adams Real Estate Lawyer, New York

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.

A provision in a contract that preserves the rest of the contract if a portion of it is invalidated by a court. Without a severability clause, a decision by the court finding one part of the contract unenforceable would invalidate the entire document.

A paperless method of entering into an electronic contract. To 'sign' a contract electronically, a person may be asked to click an 'I Accept' button or use a 'key' to encrypt (scramble) information that uniquely identifies the signer using a method called Public Key Infrastructure (PKI). Electronic signatures are as binding as those in ink.

Any control over property. If you give away property but keep an incident of ownership--for example, you give away an apartment building but retain the right to receive rent--then legally, no gift has been made. This distinction can be important if you're making large gifts to reduce your eventual estate tax.

A contract giving written permission to use an invention, creative work or trademark. A license provides a way to make money from your invention or creative work without having to manufacture and sell copies yourself. By licensing an invention or work to a company, you get money (often in the form of royalties) in return for allowing the company to use, produce and sell copies of your invention or work in the marketplace.

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.

An unforeseen and uncontrollable event that excuses a party to a contract from performing his or her duties under that contract. For example, a landlord can break a lease if the property she agreed to rent accidentally burns down before the tenants move in.

Latin for 'that you cause to be done.' This is a court document that instructs a sheriff to seize and sell a defendant's property in order to satisfy a monetary judgment against the defendant.