Saxtons River Construction Lawyer, Vermont
Includes: Construction Contracts, Construction Liens, Housing & Construction Defects
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.
A portion of profits distributed by a corporation to its shareholders based on the type of stock and number of shares owned. Dividends are usually paid in cash,... (more...)
A portion of profits distributed by a corporation to its shareholders based on the type of stock and number of shares owned. Dividends are usually paid in cash, though they may also be paid in the form of additional shares of stock or other property. The amount of a dividend is established by the corporation's board of directors; however, state laws often restrict a corporation's ability to declare dividends by requiring a minimum level of profits or assets before the dividend can be approved.
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.
See personal property, real estate, community property, separate property.
An unconditional right to receive real property at some point in the future. A vested interest may be created by a deed or a will. For example, if Julie's will ... (more...)
An unconditional right to receive real property at some point in the future. A vested interest may be created by a deed or a will. For example, if Julie's will leaves her house to her daughter, but the daughter gains possession only after Julie's husband dies, the daughter has a vested remainder in the house.
A legally binding agreement involving two or more people or businesses (called parties) that sets forth what the parties will or will not do. Most contracts tha... (more...)
A legally binding agreement involving two or more people or businesses (called parties) that sets forth what the parties will or will not do. Most contracts that can be carried out within one year can be either oral or written. Major exceptions include contracts involving the ownership of real estate and commercial contracts for goods worth $500 or more, which must be in writing to be enforceable. (See statute of frauds.) A contract is formed when competent parties -- usually adults of sound mind or business entities -- mutually agree to provide each other some benefit (called consideration), such as a promise to pay money in exchange for a promise to deliver specified goods or services or the actual delivery of those goods and services. A contract normally requires one party to make a reasonably detailed offer to do something -- including, typically, the price, time for performance and other essential terms and conditions -- and the other to accept without significant change. For example, if I offer to sell you ten roses for $5 to be delivered next Thursday and you say 'It's a deal,' we've made a valid contract. On the other hand, if one party fails to offer something of benefit to the other, there is no contract. For example, if Maria promises to fix Josh's car, there is no contract unless Josh promises something in return for Maria's services.
An increase in value. Appreciated property is property that has gone up in value since it was acquired.
Leaving property in a will.
An employment contract in which the employer forbids the employee to join a labor union. Yellow-dog contracts are not legally enforceable.
SAMPLE LEGAL CASES
... PRESENT: Reiber, CJ, Dooley, Johnson, Skoglund and Burgess, JJ. DOOLEY, J. Â¶ 1. Robert and Lourdes Eustance appeal an Environmental Court order that required an Act 250 permit amendment for the construction of improvements to their property. ...
... 32 VSA Â§ 3802(5) (emphasis added). Â¶ 7. When interpreting statutes, "[t]he bedrock rule of statutory construction is to determine and give effect to the intent of the Legislature." In re CS, 158 Vt. 339, 343, 609 A.2d 641, 643 (1992); see also Wesco, Inc. ...
... Except for excavation, the two owners of Chatham Woods did not directly participate in the construction of the units, but instead subcontracted the work to various construction companies. ... BK Construction, Inc. is owned by Bryan Howes. ...