property & real estate law

UTMA

Definition from Nolo’s Plain-English Law DictionarySee: Uniform Transfers to Minors Act

Definition provided by Nolo’s Plain-English Law Dictionary.

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 caselaw

See, e.g. Simmons v. Saul, 138 U.S. 439 (1891).

See also

Abandoned 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 caselaw

See, e.g. Simmons v. Saul, 138 U.S. 439 (1891).

See also

Abandoned...

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 caselaw

See, e.g. Warner v. Kaplan, 892 N.Y.S.2d 311 (N.Y. App. Div. 2009).

See also

Vendor (contrast)

Contract

Vendor

Definition

A seller, especially of real property. Also called venditor.

Illustrative caselaw

See, e.g. American Needle, Inc. v. National Football League, 130 S.Ct. 2201 (2010).

See also

Vendee (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).

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