Owensville Foreclosure Lawyer, Missouri

A provision in a contract stating that some or all of the terms of the contract will be altered or voided by the occurrence of a specific event. For example, a contingency in a contract for the purchase of a house might state that if the buyer does not approve the inspection report of the physical condition of the property, the buyer does not have to complete the purchase.

A proposal to enter into an agreement with another person. An offer must express the intent of the person making the offer to form a contract, must contain some essential terms--including the price and subject matter of the contract--and must be communicated by the person making the offer. A legally valid acceptance of the offer will create a binding contract.

A legal claim placed on real estate by someone who is owed money for labor, services or supplies contributed to the property for the purpose of improving it. Typical lien claimants are general contractors, subcontractors and suppliers of building materials. A mechanics' lien claimant can sue to have the real estate sold at auction and recover the debt from the proceeds. Because property with a lien on it cannot be easily sold until the lien is satisfied (paid off), owners have a great incentive to pay their bills.

A specific legal claim -- such as for negligence, breach of contract or medical malpractice -- for which a plaintiff seeks compensation. Each cause of action is divided into discrete elements, all of which must be proved to present a winning case.

Language used to leave property to a person and his or her descendants, which typically take the form 'to A, and the heirs of his body,' where A is the person receiving the property.

A form filed with the county recorder's office to put on record your right to a homestead exemption. In most states, the homestead exemption is automatic--that is, you are not required to record a homestead declaration in order to claim the homestead exemption. A few states do require such a recording, however.

A guarantee about the quality of goods or services made by a seller, such as 'This item is guaranteed against defects in construction for one year.' Most express warranties come directly from the manufacturer or are included in the sales contract. If you want to hold the seller to an oral guarantee, it's best to get it in writing or have witnesses to the guarantee so that it doesn't come down to your word against the seller's if a problem arises.