property law

Stambovsky v. Ackley

Stambovsky v. Ackley

Parties

Appellant/Plaintiff: Jeffrey M. Stambovsky

Respondent/Defendant: Helen V. Ackley et al.

Court and Date

Appellate Division 1st Department of the Supreme Court...

statutory share

Statutory share (also called forced, elective, or spousal share) refers to the amount state laws entitle a spouse or other person to regardless of what is in a will. Usually, statutory share will refer to the amount a person will be able to...

straw man

Straw man is a third party that holds property in intermission for the sole purpose of transferring it to another. In property law, a straw man would be the person whom a grantor transfers land to for some reason; (sometimes known as a "front...

subject to a condition subsequent

An estate that has a natural duration that may be cut short once a particular event or condition happens that allows the grantor to take the property back. The particular event is part of the grantor's future interest rather than part of the estate...

subject to partial divestment

See subject to open.

sublease

A sublease is a lease by the lessee of an estate to a third person, conveying all or part of the estate for a shorter term than that for which the lessee holds originally. A sublease is a new contract between the lessee and the sublessee. The...

subprime mortgage

A subprime mortgage is a subprime loan used as a mortgage (to buy property, such as a house).

See also: debt, credit score

[Last updated in June of 2022 by the Wex Definitions Team]

subtenant

See the definition for sublessee in sublease.

[Last updated in August of 2021 by the Wex Definitions Team]

succession

Succession, in legal terms, means succeeding to the rights of another. The word commonly refers to the distribution of property under a state's intestate succession laws, which determine who inherits the property when someone dies without a...

successor trustee

Successor Trustee is the person or institution who takes over the management of a living trust property when the original trustee has died or become incapacitated. The exact responsibilities of a successor trustee will vary depending on the...

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