financial events

Advancement

An advancement is a gift made during a donor’s life to a family member, usually when the donor anticipates his own death. The value of the advancement is included in the calculation of the net probate estate when the donor dies. Therefore, the...

After-Acquired Property

Definition from Nolo’s Plain-English Law Dictionary1) Property that a person acquires after taking on a debt, which becomes additional collateral for the debt. Typically, this occurs when the debtor has signed an agreement pledging all property as...

After-Acquired Title

Definition from Nolo’s Plain-English Law DictionaryTitle to property acquired by someone after that person has purportedly transferred the property to someone else. As soon as the seller actually acquires title, it passes to the person to whom it was sold...

Agency

Agency: An Overview

Agency law is concerned with any "principal"-"agent" relationship; a relationship in which one person has legal authority to act for another. Such relationships arise from explicit appointment, or by implication. The relationships...

Agent

A person with authority to act on behalf of another person.

See Principal, Fiduciary, and Fiduciary duty.

Alienable

An interest in property is alienable if it may be conveyed by one individual to another individual. In general, and by common law, private property is alienable. The classical restraint on alienation was the fee tail, which required its owner to pass...

Alienation

Definition from Nolo’s Plain-English Law DictionaryIn real estate law, the complete and voluntary transfer of title to real estate from one person to another. The freedom to alienate property is considered essential to complete ownership.

Definition...

Alimony

When a marriage ends in divorce, one spouse may receive monetary support from the other. Oftentimes, the receiving spouse must be unable to support themselves without the help of their ex-spouse. Depending on the state, support may be based on a...

Aliquot

Aliquot is derived from the Latin word meaning divisible from a larger whole without a remainder (i.e. divisible an exact number of times). Today, it usually means a fractional part or a share of the whole. The term aliquot...

Alternate Beneficiary

Definition from Nolo’s Plain-English Law DictionaryA person, organization, or institution that receives property through a will, trust, or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his...

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