Omnibus Clause
The word’s etymology reflects several diverse or seemingly unrelated topics under the same umbrella. As part of everyday discourse, you’ll find the term “omnibus” related to a clause in a dying person’s testament, federal law, or even car insurance policy.
Omnibus Clause in insurance
The term’s definition covers a section in a liability insurance policy that extends coverage to nameless individuals, others beyond the insured, such as protecting family members.
Another domain where you can often encounter the omnibus clause is car insurance. Here, it defines a provision in personal automobile policy (PAP). As a result, it provides insurance to individuals driving a vehicle with the insured party’s permission. In other words, this standard vehicle liability guideline boosts the coverage of those driving the car with the insured party’s consent, even though the PAP does not explicitly mention them. For sure, they must have a valid driver’s license on them at all times.
The omnibus clause in real estate
The meaning of the omnibus clause refers to a provision in a will, stipulating that the heirs will still inherit any assets not mentioned therein. Therefore, an omnibus clause in real estate defines a legally sanctified passage in one’s dying wish or testament. According to the clause, an explicitly named beneficiary or more recipients gain as possession any unnamed valuables of the deceased’s estate.
Omnibus bill definition
Politicians compile an omnibus bill by putting together various laws, measures, and amendments or incorporating varied political subject matters into one document as deadlines approach. They pass an omnibus account in one vote.
In the United States, analysts often refer to omnibus bills as “Big Ugly” bills. For instance, combined appropriations, budget reconciliation bills, and private relief. The United States Congress applies omnibus legislation to bring the budgets of all US departments together in one omnibus expenditure bill. They do so to reduce the federal deficit by tax code restructuring. The Omnibus Budget Reconciliation Act of 1993 is a revealing model.
The omnibus clause in federal statutes
The impediment of justice statute named 18 US Code § 1503 includes an omnibus clause. This clause stipulates that any attempt to impede justice shall be considered criminal behavior. The obstruction of justice can occur using threat, blackmail, or sheer force addressed against a juror, court officer, or judge. The US Supreme Court classified the aforementioned omnibus clause as “a catchall, prohibiting persons from endeavoring to influence, obstruct, or impede the due administration of justice.” (1995 - Source: Woodrum, Michael. “Knowledge and the Nexus Requirement in Obstruction-of-Justice Offenses.”)
Popular Real Estate Terms
Latin abbreviation for the literal translation meaning" which see". ...
Interest in real property that exists when a tenant remains in possession of leased premises or a "hold over" after his right to possession has ended. In a tenancy at sufferance, a tenant ...
The definition of Fair Market Value in the real estate business is the highest amount that could be received on the sale of a property when there are a willing buyer and a willing seller. ...
Paneled brickwork between timber quarters, a framed wall, or partition. ...
Unrealized gain in value of real property from holding it. The increase value is not recognized in the accounts. When the property is sold there will be a realized gain or loss. ...
An interest in property with the right o possession being postponed into the future until a certain even occurs. There are several possibilities where a future interest in property could ...
Interpreting the objective of a testator in his or her will. The disposition of the testator's estate must be untreatable or it could be legally challenged. ...
Legal lien on property on behalf of an individual who has not been paid for material furnished in constructing property. The material enhanced the value of the property, and as such the ...
Primary business district of a city or urbanized area having the areas major governmental offices, professional, and retail businesses represented. ...
Have a question or comment?
We're here to help.