St Joseph County, IN Land Use & Zoning Lawyers
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LEGAL TERMS
INCIDENTS OF OWNERSHIP
Any control over property. If you give away property but keep an incident of ownership--for example, you give away an apartment building but retain the right to... (more...)
Any control over property. If you give away property but keep an incident of ownership--for example, you give away an apartment building but retain the right to receive rent--then legally, no gift has been made. This distinction can be important if you're making large gifts to reduce your eventual estate tax.
MARITAL DEDUCTION
A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions a... (more...)
A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions as an exemption) allows anyone, even a billionaire, to pass his or her entire estate to a surviving spouse without any tax at all.
LEGACY
An outdated legal word meaning personal property left by a will. The more common term for this type of property is bequest. Compare devise.
APPRECIATION
An increase in value. Appreciated property is property that has gone up in value since it was acquired.
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.
ELECTRONIC SIGNATURE
A paperless method of entering into an electronic contract. To 'sign' a contract electronically, a person may be asked to click an 'I Accept' button or use a 'k... (more...)
A paperless method of entering into an electronic contract. To 'sign' a contract electronically, a person may be asked to click an 'I Accept' button or use a 'key' to encrypt (scramble) information that uniquely identifies the signer using a method called Public Key Infrastructure (PKI). Electronic signatures are as binding as those in ink.
NONDISCLOSURE AGREEMENT
A legally binding contract in which a person or business promises to treat specific information as a trade secret and not disclose it to others without proper a... (more...)
A legally binding contract in which a person or business promises to treat specific information as a trade secret and not disclose it to others without proper authorization. Nondisclosure agreements are often used when a business discloses a trade secret to another person or business for such purposes as development, marketing, evaluation or securing financial backing. Although nondisclosure agreements are usually in the form of written contracts, they may also be implied if the context of a business relationship suggests that the parties intended to make an agreement. For example, a business that conducts patent searches for inventors is expected to keep information about the invention secret, even if no written agreement is signed, because the nature of the business is to deal in confidential information.
SHORT SALE (OF HOUSE)
A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale ... (more...)
A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. See also deed in lieu (or foreclosure).
IP
See intellectual property law.
SAMPLE LEGAL CASES
COMMON COUN. MI CITY v. BD. OF ZONING APP.
On August 15, 2006, Herman & Kittle Properties, Inc., ("Herman & Kittle") filed with the Michigan
City plan director an application for permission to construct an apartment complex on the land
annexed in 1971. On September 26, 2006, the Common Council met and voted to rezone ...
600 LAND v. METROPOLITAN BD. ZONING APP.
600 Land, Inc. purchased an 8-acre parcel of land in Marion County with the intent to develop
it as a "solid waste transfer station" and recycling facility. Trucks bring loads of solid waste and
recyclables to a "transfer station," a building where 307 the trucks are unloaded, the loads ...
Burcham v. Metro. Bd. of Zoning Appeals
Crooked Creek Community Council, Inc., appeals the trial court's affirmation of a zoning variance
[1] granted to Celebration Fireworks. On cross-appeal, Celebration and the Metropolitan Board
of Zoning Appeals Division I of Marion County ("BZA") assert we should dismiss this ...
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