property & real estate law

vested ownership

Definition from Nolo’s Plain-English Law DictionaryComplete, unconditional ownership. Compare: conditional ownership

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

Vested remainder

Refers to a remainder with an ascertained taker and with no condition precedent.

See: Future Interest

view ordinance

Definition from Nolo’s Plain-English Law DictionaryA local law designed to protect property owners who have desirable (and valuable) views. Typically, these ordinances allow property owners to insist on the trimming of trees that have grown and now block...

Warehouseman's lien

A security interest that may be acquired in property by someone who provides storage services for that property. The failure to pay for services as agreed may allow the lien holder to keep possession of the property involved.

Warranty deed

A type of deed where a grantor guarantees that the grantor holds clear title to a parcel of real estate and has a right to sell it to the grantee.

Whiteacre

Fictional plot of land often used by legal scholars in discussions of real property law.

See Blackacre (related).

wildcard exemption

Definition from Nolo’s Plain-English Law DictionaryAn exemption that allows a debtor to apply a certain dollar amount to any type of property to make it -- or more of it -- exempt.

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

writ of attachment

A term for the court order authorizing attachment (the sheriff's seizure of defendant's property to satisfy a judgement).

Writ of garnishment

An order of the court. The court orders the seizure or attachment of a defendant's property (or that of a judgment debtor) that is in the possession or control of a third party. The person or corporation in possession of the property of the...

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