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Mitchell Reed Sussman
About | Practice Areas
Mitchell Reed Sussman & Associates
410 South Rampart Suite 390 Las Vegas, NV 89145» view map
Timeshare
45+ Years of Experience

The Law offices of Mitchell Reed Sussman & Associates has been in business for over 45+ years specializing in real estate litigation.

800-814-6930
1. Mitchell Reed Sussman Las Vegas, NV
  Attorney at Law- CA, 1977
2. AboutMitchell Reed Sussman & Associates
  45+ Years of Experience
3. Practice AreasExpertise
  Timeshare
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800-923-0641

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LEGAL TERMS

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.

MARITAL DEDUCTION

A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions a... (more...)

A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions as an exemption) allows anyone, even a billionaire, to pass his or her entire estate to a surviving spouse without any tax at all.

HOMESTEAD

(1) The house in which a family lives, plus any adjoining land and other buildings on that land. (2) Real estate which is not subject to the claims of creditors... (more...)

(1) The house in which a family lives, plus any adjoining land and other buildings on that land. (2) Real estate which is not subject to the claims of creditors as long as it is occupied as a home by the head of the household. After the head of the family dies, homestead laws often allow the surviving spouse or minor children to live on the property for as long as they choose. (3) Land acquired out of the public lands of the United States. The term 'homesteaders' refers to people who got their land by settling it and making it productive, rather than purchasing it outright.

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.

UNCONSCIONABILITY

A seller's taking advantage of a buyer due to their unequal bargaining positions, perhaps because of the buyer's recent trauma, physical infirmity, ignorance, i... (more...)

A seller's taking advantage of a buyer due to their unequal bargaining positions, perhaps because of the buyer's recent trauma, physical infirmity, ignorance, inability to read or inability to understand the language. The unfairness must be so severe that it is shocking to the average person. It usually includes the absence of any meaningful choice on the part of the buyer and contract terms so one-sided that they unreasonably favor the seller. A contract will be terminated if the buyer can prove unconscionability.

SHARED EQUITY MORTGAGE

A home loan in which the lender gets a share of the equity of the home in exchange for providing a portion of the down payment. When the home is later sold, the... (more...)

A home loan in which the lender gets a share of the equity of the home in exchange for providing a portion of the down payment. When the home is later sold, the lender is entitled to a portion of the proceeds.

STATUTE OF LIMITATIONS

The legally prescribed time limit in which a lawsuit must be filed. Statutes of limitation differ depending on the type of legal claim, and often the state. For... (more...)

The legally prescribed time limit in which a lawsuit must be filed. Statutes of limitation differ depending on the type of legal claim, and often the state. For example, many states require that a personal injury lawsuit be filed within one year from the date of injury -- or in some instances, from the date when it should reasonably have been discovered -- but some allow two years. Similarly, claims based on a written contract must be filed in court within four years from the date the contract was broken in some states and five years in others. Statute of limitations rules apply to cases filed in all courts, including federal court.

AGREEMENT

A meeting of the minds. An agreement is made when two people reach an understanding about a particular issue, including their obligations, duties and rights. Wh... (more...)

A meeting of the minds. An agreement is made when two people reach an understanding about a particular issue, including their obligations, duties and rights. While agreement is sometimes used to mean contract -- a legally binding oral or written agreement -- it is actually a broader term, including understandings that might not rise to the level of a legally binding contract.

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.

Forest Hills Timeshare Lawyer, New York

Sponsored Law Firm

Mitchell Reed Sussman & Associates

SPONSORED LAWYERS

Roman Aminov

Keith A. Gilman

Jack Gladstein

Heather Lynn Gregg

Robert B. Taylor

Stephen J. Singer

Richard H. Apat

Sidney G Sparrow

M. Joseph Levin

Neil P. Flynn

TIPS

LEGAL TERMS

EXCULPATORY CLAUSE

MARITAL DEDUCTION

HOMESTEAD

CONSIDERATION

UNCONSCIONABILITY

SHARED EQUITY MORTGAGE

STATUTE OF LIMITATIONS

AGREEMENT

PRIVATE MORTGAGE INSURANCE (PMI)

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