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.

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.

BREACH OF CONTRACT

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 con... (more...)

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.'

COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP

A way for married couples to hold title to property, available in Arizona, California, Nevada, Texas and Wisconsin. It allows one spouse's half-interest in comm... (more...)

A way for married couples to hold title to property, available in Arizona, California, Nevada, Texas and Wisconsin. It allows one spouse's half-interest in community property to pass to the surviving spouse without probate.

RIGHT OF SURVIVORSHIP

The right of a surviving joint tenant to take ownership of a deceased joint tenant's share of the property. See joint tenancy.

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.

ASSIGNMENT

A transfer of property rights from one person to another, called the assignee.

ESCHEAT

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

LOAN BROKER

A person who specializes in matching home buyers with appropriate mortgage lenders. For a fee--often paid by the lender--a loan broker provides any easy and eff... (more...)

A person who specializes in matching home buyers with appropriate mortgage lenders. For a fee--often paid by the lender--a loan broker provides any easy and effective way to find the cheapest mortgage rates.

SAMPLE LEGAL CASES

Quattrocchi v. FJ Sciame Construction Corp.

ANTHONY QUATTROCCHI, Respondent, v. FJ SCIAME CONSTRUCTION CORP., Respondent. FJ SCIAME CONSTRUCTION CO., INC., Sued Herein as FJ SCIAME CONSTRUCTION CORP., Third-Party Plaintiff-Respondent, v. COMPLETE CONSTRUCTION ...

CONSTRUCTION BY SINGLETREE, INC. v. Lowe

After the completion of discovery, JC moved for summary judgment dismissing, inter alia, the claims to recover liquidated and compensatory damages for breach of warranty, as set forth in Lowe's second cross claim, arguing that there was no evidence to substantiate Lowe's ...

Lane v. FRATELLO CONSTRUCTION COMPANY

The Supreme Court erred in granting that branch of the defendants' motion which was to dismiss the plaintiffs' Labor Law Â§ 241 (6) causes of action against all of the defendants premised on an alleged violation of 12 NYCRR 23-1.7 (e) (2). 576 Contrary to the defendants' ...

North Greece Construction Lawyer, New York

SPONSORED LAWYERS

Matthew David Brown

James John Pergolizzi

Kevin Francis Peartree

John Walter Dreste

Nell M. Hurley

Michael A. Damia

Zachary Cosmo Osinski

Sareer Ahmed Fazili

Richard Timothy Bell

Daniel P. Adams

TIPS

LEGAL TERMS

PRIVATE MORTGAGE INSURANCE (PMI)