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... (more...)

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.

VIEW ORDINANCE

A law adopted by some cities or towns with desirable vistas -- such as those in the mountains or overlooking the ocean -- that protects a property owner from ha... (more...)

A law adopted by some cities or towns with desirable vistas -- such as those in the mountains or overlooking the ocean -- that protects a property owner from having his or her view obstructed by growing trees. View ordinances don't cover buildings or other structures that may block views.

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.

QUANTUM MERUIT

The reasonable value of services provided, which a winning party may be able to recover from an opponent who broke a contract.

FORECLOSURE

The forced sale of real estate to pay off a loan on which the owner of the property has defaulted.

ESCHEAT

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

MORTGAGE

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.

DEVISE

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 s... (more...)

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.

BEQUEST

The legal term for personal property (anything but real estate) left in a will.

SAMPLE LEGAL CASES

Marbob Energy Corp. v. OIL CONSERVATION COM'N

... As a result, our analysis is one of statutory construction, and we review the district court's decision upholding Rule 1227 de novo. See NM Indus. ... {7} Statutory construction is a question of law. State v. Romero, 2006-NMSC-039, Â¶ 6, 140 NM 299, 142 P.3d 887. ...

Primetime Hospitality, Inc. v. Albuquerque

... (Primetime) had begun constructing a hotel on its Albuquerque property when it accidentally ruptured an encroaching City of Albuquerque (the City) waterline, causing it to incur excess construction costs and delaying the hotel's opening. ... C. EXCESS CONSTRUCTION COSTS. ...

Tafoya v. Rael

... Valerie TAFOYA, as personal representative of the Estate of Phillip Tafoya Jr., Plaintiff-Petitioner, v. Jason RAEL and Wilfred Rael, d/b/a Rael Excavation & Co., and Thomas Tafoya, d/b/a Chuby's Construction, Defendants-Respondents. No. 30,568. ...

Mora Construction Lawyer, New Mexico

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TIPS

LEGAL TERMS

REAL PROPERTY

VIEW ORDINANCE

MARITAL DEDUCTION

QUANTUM MERUIT

FORECLOSURE

ESCHEAT

MORTGAGE

DEVISE

BEQUEST

SAMPLE LEGAL CASES

Marbob Energy Corp. v. OIL CONSERVATION COM'N

Primetime Hospitality, Inc. v. Albuquerque

Tafoya v. Rael

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