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A legal principle or rule created by one or more decisions of a state or federal appellate court. These rules provide a point of reference or authority for (more...)
A legal principle or rule created by one or more decisions of a state or federal appellate court. These rules provide a point of reference or authority for judges deciding similar issues in later cases. Lower courts must apply these rules when faced with similar legal issues. For example, if the Montana Supreme Court decides that a certain type of employment contract overly restricts the right of the employee to quit and get another job, all other Montana courts must apply this same rule.
deed in lieu (of foreclosure)
A means of escaping an overly burdenome mortgage. If a homeowner can't make the mortgage payments and can't find a buyer for the house, many lenders will (more...)
A means of escaping an overly burdenome mortgage. If a homeowner can't make the mortgage payments and can't find a buyer for the house, many lenders will accept ownership of the property in place of the money owed on the mortgage. Even if the lender won't agree to accept the property, the homeowner can prepare a quitclaim deed that unilaterally transfers the homeowner's property rights to the lender.
The many types of information presented to a judge or jury designed to convince them of the truth or falsity of key facts. Evidence typically includes (more...)
The many types of information presented to a judge or jury designed to convince them of the truth or falsity of key facts. Evidence typically includes testimony of witnesses, documents, photographs, items of damaged property, government records, videos and laboratory reports. Rules that are as strict as they are quirky and technical govern what types of evidence can be properly admitted as part of a trial. For example, the hearsay rule purports to prevent secondhand testimony of the 'he said, she said' variety, but the existence of dozens of exceptions often means that hairsplitting lawyers can find a way to introduce such testimony into evidence. See also admissible evidence, inadmissible evidence.
A commercial real estate lease in which the tenant regularly pays not only for the space (as he does with a gross lease) but for a portion of the landlord's (more...)
A commercial real estate lease in which the tenant regularly pays not only for the space (as he does with a gross lease) but for a portion of the landlord's operating costs as well. When all three of the usual costs--taxes, maintenance and insurance--are passed on, the arrangement is known as a 'triple net lease.' Because these costs are variable and almost never decrease, a net lease favors the landlord. Accordingly, it may be possible for a tenant to bargain for a net lease with caps or ceilings, which limits the amount of rent the tenant must pay. For example, a net lease with caps may specify that an increase in taxes beyond a certain point (or any new taxes) will be paid by the landlord. The same kind of protection can be designed to cover increased insurance premiums and maintenance expenses.
An employment contract in which the employer forbids the employee to join a labor union. Yellow-dog contracts are not legally enforceable.
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.
limited equity housing
An arrangement designed to encourage low-and moderate-income families to purchase housing, in which the housing is offered at an extremely favorable price with (more...)
An arrangement designed to encourage low-and moderate-income families to purchase housing, in which the housing is offered at an extremely favorable price with a low down payment. The catch is that when the owner sells, she gets none of the profit if the market value of the unit has gone up. Any profit returns to the organization that built the home, which then resells the unit at an affordable price.
Business property that can be quickly and easily converted into cash, such as stock, bank accounts and accounts receivable.
Land and the property permanently attached to it, such as buildings, houses, stationary mobile homes, fences and trees. In legalese, real estate is also called real property.
... According to Montgomery, he lives in a rented trailer and has an agreement with the landlord
to fix it up. The tiles on the floor are peeling up at the corners, and the can of acetone that
the landlord had left to remove them with was nearly empty. ...
... We affirm the trial court's dismissal of the action because Harvest Manor waived its statutory right
to evict Mr. Padilla under the Manufactured/Mobile Home Landlord-Tenant Act (MHLTA), chapter
59.20 RCW, by continuing to accept rent from Mr. Padilla after serving three 15-day ...
... SCHINDLER, CJ. ¶ 1 The Manufactured/Mobile Home Landlord Tenant Act (MHLTA), chapter
59.20 RCW, governs the legal rights and obligations between mobile home park landlords
and tenants. ... Manufactured/Mobile Home Landlord Tenant Act. ...