Definition of "Ad litem"
Need to know the Ad Litem definition after coming across this weird term?
Ad litem is short for “Guardian Ad Litem” or “Attorney Ad litem”, a legal term that refers to the person appointed by the court to investigate what results would be of best interest to the child (or a grownup that is legally incapacitated of representing himself) in the lawsuit at hand. The Guardian Ad Litem (GAL), then, represents that person and fights for that outcome.
The most common use for it is in divorce lawsuits. But in Real Estate it can also have many uses:
- Say a kid becomes an orphan – a GAL will be appointed to act on his or her behalf in court regarding the kid’s rights to inheritance.
- If a situation arises for a non-verbal person with special needs and no relatives that leads to a Homes for the disabled lawsuit, the court will also appoint a GAL.
- It can even be used in a property litigation: to act on behalf of an estate if the owners are unavailable or unwilling to do so.
Lastly, in case you’re wondering: The root of the Ad Litem definition comes from Latin. The word Ad Litem means “for the suit”, or “for the proceeding”.
Have a Real Estate Agent as your guardian, protecting your best interests at all times!
Popular Real Estate Terms
One of series of parallel beams directly supporting a floor or a roof. Joists can be made out of wood, steel or steel reinforced concrete. Joists are in turn supported by other beams or ...
Rental income received from property that exceeds the costs of owning and maintaining the property. ...
Conversion of real property into money. The breaking up and selling of a real estate company for cash distribution to its creditors and then owners. Chapter 7 of the Federal Bankruptcy ...
Secondary written agreement to purchase real property in the event the initial contract is not signed. ...
Usual operating service life of property for the purpose it was acquired. The useful life used for depreciation accounting does not necessarily coincide with the actual physical life or any ...
Restraining a person or business from denying an appropriate conveyance of property evidenced by a deed has given. ...
(1) The interest rate used to convert future receipts or payments in connection with real estate property to their present value. The cost of capital is used as the discount rate under the ...
A rule that the price of a house should not exceed about 2 to 2.5 times your family's gross annual earnings. Example : If annual gross income is $70,000, the highest price one could afford ...
Formal written examination given in every state to those people being the age of majority and qualifying to be a real estate salesperson or broker. The examination can consist of multiple ...
Have a question or comment?
We're here to help.