A loan in which the borrower puts up the title to real estate as security (collateral) for a loan. If the borrower doesn't pay back the debt on time, the lender... (more...)

A loan in which the borrower puts up the title to real estate as security (collateral) for a loan. If the borrower doesn't pay back the debt on time, the lender can foreclose on the real estate and have it sold to pay off the loan.

FUTURE INTEREST

A right to property that cannot be enforced in the present, but only at some time in the future. For example, John's will leaves his house to his sister Marian,... (more...)

A right to property that cannot be enforced in the present, but only at some time in the future. For example, John's will leaves his house to his sister Marian, but only after the death of his wife, Hillary. Marian has a future interest in the house.

FRIENDLY SUIT

A lawsuit brought by two parties, not as adversaries, but as collaborators in order to resolve a legal question that affects them both. For example, two compani... (more...)

A lawsuit brought by two parties, not as adversaries, but as collaborators in order to resolve a legal question that affects them both. For example, two companies might bring a friendly suit to court in order to clarify a legal interpretation of a contract between them.

FIERI FACIAS

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... (more...)

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.

PROPERTY

See personal property, real estate, community property, separate property.

TESTAMENTARY DISPOSITION

Leaving property in a will.

ESCHEAT

The forfeit of all property to the state when a person dies without heirs.

GOODS & CHATTELS

See personal property.

SAMPLE LEGAL CASES

US BANK NA v. Mallory

... Appellant contends (1) the default judgment should have been stricken since the failure to plead properly an assignment of mortgage in a mortgage foreclosure action is a fatal defect apparent on the face of the record; (2) Appellee did not have standing to bring the instant ...

Strausser v. PRAMCO, III

... interest and late fees. Â¶ 6 On October 27, 2005, M&T sold appellant's loan to PRAMCO. On May 11, 2006, PRAMCO instituted a mortgage foreclosure action against the 429-431 E. Market Street property. On August 1, 2006, appellant ...

Citimortgage, Inc. v. KDR INVESTMENTS, LLP

... Initially, Tina Neely held title to the property and Citimortgage held a first mortgage lien. When Neely's mortgage became delinquent, Citimortgage instituted foreclosure proceedings, which led to a Sheriff's sale on July 13, 2006. Citimortgage purchased the property at that sale. ...

Hendersonville Foreclosure Lawyer, Pennsylvania

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LEGAL TERMS

QUANTUM MERUIT

MORTGAGE

FUTURE INTEREST

FRIENDLY SUIT

FIERI FACIAS

PROPERTY

TESTAMENTARY DISPOSITION

ESCHEAT

GOODS & CHATTELS

SAMPLE LEGAL CASES

US BANK NA v. Mallory

Strausser v. PRAMCO, III

Citimortgage, Inc. v. KDR INVESTMENTS, LLP

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