financial events

Appreciation

Appreciation is an increase in an asset’s value, usually due to inflation or other external economic factors (the opposite of depreciation).

In more common parlance, appreciation may also be recognition or understanding of...

ARM

See: adjustable rate mortgage

Ascertained

When a particular individual that holds a future interest is alive and may be identified. The heirs of a person who is still alive are unascertained.

Asset

An asset is something of value owned by an individual or organization. An asset can be physical property like a building or intangible property such as a patent. Assets are an important part of and differ in many areas of law.

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Assumable Mortgage

A type of financing in which one person may take over the mortgage from another. For example, Buyer 1 wants to buy a house, so he takes out a mortgage (borrows money from the bank to pay for the house). If Buyer 1 wants to sell the house to Buyer 2...

Assume

To assume means to undertake. Generally, in legal contexts, to assume means to take over a certain duty or responsibility. For example, Alice may assume Bob’s liability for a debt (Alice may take over Bob’s debt).

In...

Assumption

An assumption is an assertion or statement that is taken as true or supposed as a fact without proof or substantiating evidence. An assumption may also be the act of taking over (another individual or entity’s) duty or responsibility.

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Attached

Definition from Nolo’s Plain-English Law Dictionary1) In real estate, when equipment, shelving, or furniture is solidly incorporated into a structure, such as bolted to the floor or wired to the ceiling (and not capable of being removed without damage to...

Attachment

An attachment is a court order seizing specific property. Attachment is used both as a pre-trial provisional remedy and to enforce a final judgment.

Sometimes, courts attach a defendant's property as a provisional remedy to prevent the...

Attest

Definition

To testify or confirm that something is true, genuine, or authentic. See attestation.

Illustrative case law

See, e.g. Keely v. Moore, 196 U.S. 38 (1904).

See alsoAttestation clauseEstates and trusts

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