The component parts of a legal claim or cause of action. To win a lawsuit, a plaintiff must prove every element of a legal claim. For example, here are the elem... (more...)

The component parts of a legal claim or cause of action. To win a lawsuit, a plaintiff must prove every element of a legal claim. For example, here are the elements of a breach of contract claim: There was a valid contract. The plaintiff performed as specified by the contract. The defendant failed to perform as specified by the contract. The plaintiff suffered an economic loss as a result of the defendant's breach of contract.

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.

INTANGIBLE PROPERTY

Personal property that has no physical existence, such as stocks, bonds, bank notes, trade secrets, patents, copyrights and trademarks. Such 'untouchable' items... (more...)

Personal property that has no physical existence, such as stocks, bonds, bank notes, trade secrets, patents, copyrights and trademarks. Such 'untouchable' items may be represented by a certificate or license that fixes or approximates the value, but others (such as the goodwill or reputation of a business) are not easily valued or embodied in any instrument. Compare tangible property.

FAILURE OF CONSIDERATION

The refusal or inability of a contracting party to perform its side of a bargain.

LANDLORD

The owner of any real estate, such as a house, apartment building or land, that is leased or rented to another person, called the tenant.

APPRECIATION

An increase in value. Appreciated property is property that has gone up in value since it was acquired.

INVITEE

A business guest, or someone who enters property held open to members of the public, such as a visitor to a museum. Property owners must protect invitees from d... (more...)

A business guest, or someone who enters property held open to members of the public, such as a visitor to a museum. Property owners must protect invitees from dangers on the property. In an example of the perversion of legalese, social guests that you invite into your home are called 'licensees.'

TENANCY IN COMMON

A way two or more people can own property together. Each can leave his or her interest upon death to beneficiaries of his choosing instead of to the other owner... (more...)

A way two or more people can own property together. Each can leave his or her interest upon death to beneficiaries of his choosing instead of to the other owners, as is required with joint tenancy. In some states, two people are presumed to own property as tenants in common unless they've agreed otherwise in writing.

HOMEOWNERS' ASSOCIATION

An organization comprising neighbors concerned with managing the common areas of a subdivision or condominium complex. These associations take on issues such as... (more...)

An organization comprising neighbors concerned with managing the common areas of a subdivision or condominium complex. These associations take on issues such as salting and sanding a subdivision when it snows and collecting dues from residents. The homeowners' association is also responsible for enforcing any covenants, conditions & restrictions that apply to the 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. ...

New Tripoli Foreclosure Lawyer, Pennsylvania, page 2

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LEGAL TERMS

ELEMENTS (OF A CASE)