Pender Harbor Real Estate Other Lawyer, British Columbia, page 2

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.

A legal claim that one party failed to perform as required under a valid agreement with the other party. For example you might say, 'The roofer breached our contract by using substandard supplies when he repaired my roof.'

An arrangement designed to encourage low-and moderate-income families to purchase housing, in which the housing is offered at an extremely favorable price with a low down payment. The catch is that when the owner sells, she gets none of the profit if the market value of the unit has gone up. Any profit returns to the organization that built the home, which then resells the unit at an affordable price.

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.

Another term for real estate. It includes land and things permanently attached to the land, such as trees, buildings, and stationary mobile homes. Anything that is not real property is termed personal property.

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.

The final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has been recorded.