Legal Terms
Back

newsboxfooter

Glossary of Legal Terms

  • Administrator (male), Administratrix (female) (also known as Personal Representative) - Person or institution appointed by the court to manage and distribute the estate of a person who dies without a will.
  • Administrator with the Will Annexed – Person designated by the Court to carry out the terms of a Will where the Will fails to name an executor.
  • Beneficiary - Person named to receive property or benefits.
  • Codicil - An addition or supplement made to change or add provisions to a will.
  • Contingent beneficiary - Receiver or property or benefits if first-named beneficiary dies before receiving all benefits.
  • Contract - Legally enforceable agreement.
  • Decedent - A deceased person.
  • Devise - To give real or Personal Property.
  • Estate - Everything a person owns, all real and personal property owned.
  • Executor (male), Executrix (female) (also known as a Personal Representative) - A person or institution named in the will to carry out the provisions and directions of the will.
  • Intestate - A person who dies without making a valid will.
  • Legatee - Person who receives personal property under a will.
  • Levied - To collect by assessment.
  • Lien - A charge upon property, real or personal, for the satisfaction of a debt.
  • Personal property - Intangible property, such as stocks, bonds, or bank accounts; and tangible property such as furniture, automobile, jewelry.
  • Probate - Official proof of the genuineness of a will.
  • Real Property - Land and buildings.
  • Surrogate - A judicial officer who has jurisdiction over the probate of wills in the absence of a contest and acts as the Clerk of the Probate Court in the settlement of estates, guardianships, and trusts.
  • Tenants in common - Two or more persons owning individual interests in property.
  • Testator (male), Testatrix (female) - The person who makes a will.
  • Trust - Property owned and managed by one person for the benefit of another.
  • Trustee - Person or institution holding property in trust.
  • Waiver - A legal instrument relinquishing a right or lien.
  • Will - A legal declaration of the manner in which a person wishes his estate divided after death.
  • Witness - Person who observed the signing of a will and also attests to the signatures.

Ugg Boots Cheap Ugg Boots Pandora Jewelry Buy Ugg Boots Ugg Boots Sale GHD Hair Straighteners Uggs Boots True Religion Jeans Uggs Ugg Boots UK