Legal Age
Definition of "Legal age"
The age at which one is legally capable of entering into binding contracts, signing a deed and negotiating business agreements. In most states this is the age of majority. Normally this is the age of 18. However, for certain activities, such as drinking alcoholic beverages, the age could be higher or lower in the case of qualifying to obtain a driver's license. A contract, deed, or business agreement is not valid when signed by a minor.
Popular Real Estate Terms
Individual who by his expertise, education, and experience prepares syndication reports. ...
The term amenity value refers to the worth or pleasant feeling added by using or seeing something. The amenity value definition would be the value that an individual amenity adds to the ...
Primary horizontal support for a structure such as a house. It may be a large piece of wood, stone, iron, or other material that lies across the walls, and serves as support of the ...
The equity in property because of work in it by the buyer or holder which directly increases its value. ...
Legal proceeding whereby a person's property is attached and used to pay an obligation. The employer may withhold part of the employee's salary to the court until the debt has been paid. ...
The angle of a roof in relation to its horizontal axis expressed as a ratio of inches (cmm) per foot of horizontal distance. The sloping of ground, such as sloping ground away from the ...
A partition or wall that provides no support to the structure in which it is located. For example, a nonbearing partition or wall does not support any floors above it. A partition which ...
(1) Retaining wall constructed along water with solid earth behind it. It extends the effective shoreline and protects the land from tidal action. (2) That portion of a wall located beneath ...
Claim made by a federal or local government agency against a taxpayer's property for delinquent or overdue taxes. The tax lien is effected through tax assessment, demand, and failure to ...
Have a question or comment?
We're here to help.