Personal property that can be felt or touched. Examples include furniture, cars, jewelry and artwork. However, cash and checking accounts are not tangible perso... (more...)

Personal property that can be felt or touched. Examples include furniture, cars, jewelry and artwork. However, cash and checking accounts are not tangible personal property. The law is unsettled as to whether computer data is tangible personal property. Compare intangible property.

DOWN PAYMENT

A lump sum cash payment paid by a buyer when he or she purchases a major piece of property, such as a car or house. The buyer typically takes out a loan for the... (more...)

A lump sum cash payment paid by a buyer when he or she purchases a major piece of property, such as a car or house. The buyer typically takes out a loan for the balance remaining, and pays it off in monthly installments over time.

ASSIGNMENT

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

REFUGEE

In the context of U.S. immigration law, people who have been allowed to live in the United States indefinitely to protect them from persecution in their home co... (more...)

In the context of U.S. immigration law, people who have been allowed to live in the United States indefinitely to protect them from persecution in their home countries. Refugees get their status before coming to the U.S., while asylum seekers obtain their status after arrival. Refugees may eventually get green cards.

ADVERSE POSSESSION

A means by which one can legally take another's property without paying for it. The requirements for adversely possessing property vary between states, but usua... (more...)

A means by which one can legally take another's property without paying for it. The requirements for adversely possessing property vary between states, but usually include continuous and open use for a period of five or more years and paying taxes on the property in question.

VARIANCE

An exception to a zoning ordinance, usually granted by a local government. For example, if you own an oddly shaped lot that could not accommodate a home in acco... (more...)

An exception to a zoning ordinance, usually granted by a local government. For example, if you own an oddly shaped lot that could not accommodate a home in accordance with your city's setback requirement, you could apply at the appropriate office for a variance allowing you to build closer to a boundary line.

DOMINANT TENEMENT

Property that carries a right to use a portion of a neighboring property. For example, property that benefits from a beach access trail across another property ... (more...)

Property that carries a right to use a portion of a neighboring property. For example, property that benefits from a beach access trail across another property is the dominant tenement.

BEQUEST

The legal term for personal property (anything but real estate) left in a will.

COVENANT

A restriction on the use of real estate that governs its use, such as a requirement that the property will be used only for residential purposes. Covenants are ... (more...)

A restriction on the use of real estate that governs its use, such as a requirement that the property will be used only for residential purposes. Covenants are found in deeds or in documents that bind everyone who owns land in a particular development. See covenants, conditions and restrictions.

SAMPLE LEGAL CASES

RON MEDLIN CONST. v. Harris

RON MEDLIN CONSTRUCTION, a Partnership, and George Ronald Medlin, Individually, Plaintiffs, v. Raymond A. HARRIS and Sarah N. Harris, Defendants, and Ron Medlin Construction, a Partnership, and GEORGE RONALD MEDLIN, Individually, Plaintiffs and Third Party ...

SCHENKEL & SHULTZ v. HERMON FOX & ASSOCS.

... Construction began in the fall of 2000, but by the spring of 2001, project contractors, subcontractors, and consultants documented in correspondence with Schenkel their concerns regarding the integrity of the structural steel components of the project and requested that an ...

Persis Nova Const., Inc. v. Edwards

PERSIS NOVA CONSTRUCTION, INC., d/b/a Persis-Nova Construction Company a/k/a P & N Homes, Plaintiff, v. Bruce K. EDWARDS and Kathlyn E. Edwards, Defendants. ... The final contract price of the construction cost of Mr. and Mrs. Edwards has been finalized at $274,500.... ...

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LEGAL TERMS

TANGIBLE PERSONAL PROPERTY