Definition provided by Nolo’s Plain-English Law Dictionary.
property & real estate law
UTMA
Definition from Nolo’s Plain-English Law DictionarySee: Uniform Transfers to Minors Act
uxor
Definition from Nolo’s Plain-English Law DictionarySee: et uxor
Definition provided by Nolo’s Plain-English Law Dictionary.
Vacant
Definition
1) Empty, unclaimed, and/or unoccupied real property.
2) An abandoned estate, i.e. an estate that has no heirs or claimants.
Illustrative caselawSee, e.g. Simmons v. Saul, 138 U.S. 439 (1891).
See alsoAbandoned property
Vacant succession
Definition
An estate that has no heirs, because they either do not exist or have renounced the estate. A vacant estate may escheat back to the state.
Illustrative caselawSee, e.g. Simmons v. Saul, 138 U.S. 439 (1891).
See alsoAbandoned...
Valuable papers
Definition
In estates and trusts law, documents — in particular, wills — that are important in carrying out a decedent's wishes. In addition to wills, valuable papers include power of attorney forms, title documents, stock certificates, and letters to...
Variance
Definition
1) An officially granted exception to a zoning ordinance. Such exceptions may be granted on a case-by-case basis for some persuasive reason shown.
2) A difference between two statements or other pieces of evidence that usually would be...
Vendee
Definition
A buyer, especially of real property.
Illustrative caselawSee, e.g. Warner v. Kaplan, 892 N.Y.S.2d 311 (N.Y. App. Div. 2009).
See alsoVendor (contrast)
Contract
Vendor
Definition
A seller, especially of real property. Also called venditor.
Illustrative caselawSee, e.g. American Needle, Inc. v. National Football League, 130 S.Ct. 2201 (2010).
See alsoVendee (contrast)
Contract
Vest
A right or an interest in property "vests" when it is secured. This means that the beneficiary of the right or property interest is certain to receive a specific amount, either now or in the future.
Vested
Having an absolute right or title to something, to be enjoyed either now or in the future. A vested right is unconditional; it is no longer dependent on any event even if it was in the past.
See Contingent (contrast).