bona fide purchaser
A bona fide purchaser is someone who exchanges value for property without any reason to suspect irregularities in the transaction.
wex
PROPERTY
broker
wex
brownfield
According to the Environmental Protection Agency (EPA), brownfields are properties that were previously developed, but where expansion, redevelopment, or reuse may be complicated by the presence (or potential presence) of a hazardous substance, pollutant or contaminant. An example would be an old abandoned paint factory.
wex
burden
A burden is a generic term referring to a restriction on a use or activity. Often, the term arises in property law. For instance, real property may carry an intangible burden in the form of covenants or easements.
wex
buyout agreement
Buyout agreement (also known as a buy-sell agreement) refers to a contract that gives rights to at least one party of the contract to buy the share, assets, or rights of another party given a specific event. These agreements can arise in a variety of contexts as stand-alone contracts or parts of larger agreements.
bypass trust
Bypass trust (also called an AB trust or a credit shelter trust) is a tool used by well-off married individuals to legally maximize their estate tax exemptions.
cancel
In a legal context, to cancel is to render something otherwise valid as void or no longer in effect. For example, a person might write a check and then destroy it or write “void” across its face; both would successfully eliminate the check’s ability to serve as legal tender. A person might also cancel an otherwise binding contract.
wex
cancellation
wex