Chapter 11
Used primarily by real estate corporations as a means of restructuring and reorganizing existing debts. Creditors must vote on a debt-paying plan and a judge must give approval. It provides protection for individual debtors with debts to large for a Chapter 13 filing. See also wage earner plan (chapter 13).
Popular Real Estate Terms
Another residence in addition to the main residence where a person or family resides. An example is a second home out of the city used on weekends and during vacations. Interest and real ...
Note having more than one maker, if one or more of the makers default on the note, all makers are sued jointly, rather than just one or all, to make restitution ...
Amount charged for each unit of rental property. An example of a unit might be square footage of space or an apartment. ...
Individual: Adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate ...
A fiduciary intermingling a clients funds or one who is entrusted with funds and groups them with those of his own. This practice is considered a breach of a fiduciary relationship and a ...
An oral will made by a testator/testatrix just prior to death before an insufficient number of witnesses. Nuncupative wills depend on the oral testimony of those witnesses present as proof. ...
Parcel of land that is totally surrounded by other land parcels not providing access to a highway. ...
The company is not responsible to a third party if an account or financial instrument is dishonored by the debtor. The creditor's recourse is solely to the debtor's property. An example is ...
Large scale map of an urban area detailing land use. City plans are essential for projecting the growth, development, and redevelopment of the urban area. The major objective of a city plan ...
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