Estate (law)

An estate, in common law, is the net worth of a person at any point in time alive or dead. It is the sum of a person's assets – legal rights, interests and entitlements to property of any kind – less all liabilities at that time. The issue is of special legal significance on a question of bankruptcy and death of the person. (See inheritance.)

Depending on the particular context, the term is also used in reference to an estate in land or of a particular kind of property (such as real estate or personal estate). The term is also used to refer to the sum of a person's assets only.

The equivalent in civil law legal systems is patrimony.

Bankruptcy

Under United States bankruptcy law, a person's estate consists of all assets or property of any kind available for distribution to creditors.[1] However, some assets are recognized as exempt to allow a person significant resources to restart his or her financial life. In the United States, asset exemptions depend on various factors, including state and federal law.[2][3][4] The estate (or assets) of a bankrupt person is administered by a trustee in bankruptcy. The legal position in all common law countries is similar in this respect.

Legal estate in land

In land law, the term "estate" is a remnant of the English feudal system, which created a complex hierarchy of estates and interests in land. The allodial or fee simple interest is the most complete ownership that one can have of property in the common law system. An estate can be an estate for years, an estate at will, a life estate (extinguishing at the death of the holder), an estate pur auter vie (a life interest for the life of another person) or a fee tail estate (to the heirs of one's body) or some more limited kind of heir (e.g. to heirs male of one's body).

Fee simple estates may be either fee simple absolute or defeasible (i.e. subject to future conditions) like fee simple determinable and fee simple subject to condition subsequent; this is the complex system of future interests (q.v.) which allows concepts of trusts and estates to elide into actuarial science through the use of life contingencies.

Estate in land can also be divided into estates of inheritance and other estates that are not of inheritance. The fee simple estate and the fee tail estate are estates of inheritance; they pass to the owner's heirs by operation of law, either without restrictions (in the case of fee simple), or with restrictions (in the case of fee tail). The estate for years and the life estate are estates not of inheritance; the owner owns nothing after the term of years has passed, and cannot pass on anything to his or her heirs.

Legal estates and interests are called rights "in rem", and said to be "good against the world".

Equitable estates

Superimposed on the legal estate and interests in land, English courts also created "equitable interests" over the same legal interests. These obligations are called trusts which will be enforceable in a court. A trustee is the person who holds the legal title to property, while the beneficiary is said to have an equitable interest in the property.

See also

References

  1. ^ Bankruptcy Code 11 U.S.C. § 541.
  2. ^ Fay, Scott; Hurst, Erik; White, Michele J. (June 2002). "The Household Bankruptcy Decision". The American Economic Review. 92 (3). JSTOR 3083362.
  3. ^ "Chapter 7 - Bankruptcy Basics". United States Courts. Retrieved 20 September 2017.
  4. ^ "11 U.S. Code § 522 - Exemptions". Legal Information Institute. Cornell Law School. Retrieved 20 September 2017.
Adam Leitman Bailey

Adam Leitman Bailey is an American lawyer who practices residential and commercial real estate law as founder of Adam Leitman Bailey, P.C. He has engaged in several notable legal cases.

The Martindale-Hubbell peer review system gave Bailey an AV rating, its highest category. Bailey is subject to a court ordered four month suspension beginning May 3rd, 2019 that derives from his own egregious misconduct. For the duration of the suspension, Bailey will not be able to professionally identify as a lawyer and his eponymous law firm will be forced to change their name.

Alan D. Clemmons

Alan D. Clemmons (born December 6, 1958) is an American member of the South Carolina House of Representatives, where he has served since 2002. He is a member of the Republican Party.

Clemmons was born in Myrtle Beach in 1958. From 1978 to 1980 Clemmons served as a missionary for The Church of Jesus Christ of Latter-day Saints in Southern Mexico. He is a member of The Church of Jesus Christ of Latter-day Saints. Clemmons holds a bachelor's degree from Coastal Carolina University and a JD from Hamline University. Clemmons currently practices real estate law in Myrtle Beach.

Clemmons and his wife Laura Ann are the parents of two daughters.

Britons in Hong Kong

Britons never made up more than a small portion of the population in Hong Kong, despite Hong Kong having been under British rule for more than 150 years. However, they did leave their mark on Hong Kong's institutions, culture and architecture. The British population in Hong Kong today consists mainly of career expatriates working in banking, education, real estate, law and consultancy, as well as a large number of British-born ethnic Chinese, former Chinese émigrés to the UK and Hong Kongers (mostly ethnic Chinese) who successfully applied for full British citizenship before the transfer of sovereignty in 1997.

There were 33,733 Britons in Hong Kong, as of the 2011 Hong Kong Census.

California Bureau of Real Estate

The California Department of Real Estate (DRE) is the state agency responsible for administering real estate license examinations, issuing real estate licenses and certain mortgage loan originator endorsements to such licensees; regulating and disciplining real estate licensees, and qualifying certain residential subdivision offerings.

It is headed by the Real Estate Commissioner, who is appointed by the Governor. DRE is in the California Business, Consumer Services, and Housing Agency. It is headquartered in Sacramento and has district offices in Oakland, Fresno, Los Angeles, and San Diego. As of July 1, 2013, the DRE had 336 authorized positions and there are approximately 408,496 total real estate licensees in California as of October 2013.Real estate licensing is subject to both the Real Estate Law and regulations of the Real Estate Commissioner. The Real Estate Law is codified at Division 4 of the California Business and Professions Code, and regulations are codified in Chapter 6, Title 10 of the California Code of Regulations. The Subdivided Lands Act is codified in Sections 11000 et seq. of the Business and Professions Code.

Disclaimer

A disclaimer is generally any statement intended to specify or delimit the scope of rights and obligations that may be exercised and enforced by parties in a legally recognized relationship. In contrast to other terms for legally operative language, the term disclaimer usually implies situations that involve some level of uncertainty, waiver, or risk.

A disclaimer may specify mutually agreed and privately arranged terms and conditions as part of a contract; or may specify warnings or expectations to the general public (or some other class of persons) in order to fulfill a duty of care owed to prevent unreasonable risk of harm or injury. Some disclaimers are intended to limit exposure to damages after a harm or injury has already been suffered. Additionally, some kinds of disclaimers may represent a voluntary waiver of a right or obligation that may be owed to the disclaimant.

Disclaimers vary in terms of their uniformity. Some may vary depending on the specific context and parties involved, while other types of disclaimers may strictly adhere to a uniform and established set of formalities that are rarely or never modified, except under official authority. Some of these formal disclaimers are required pursuant to industry regulation, qualification for protection under a safe harbor, and other situations where the exact wording of a particular clause or document may be dispositive in the event of a legal dispute. (See e.g., Product liability, Toxicity Class, Rule against perpetuities, Public Health Cigarette Smoking Act.)

The presence of a disclaimer in a legally binding agreement does not necessarily guarantee that the terms of the disclaimer will be recognized and enforced in a legal dispute. There may be other legal considerations that render a disclaimer void either in whole or part.

Ethan Watts

Ethan Mahoney Watts (born May 4, 1972 in Philadelphia, Pennsylvania) is a former American volleyball player, who was a member of the United States men's national volleyball team that finished in ninth place at the 1996 Summer Olympics in Atlanta, Georgia. He competed at the 1993 World University Games in Buffalo as a middle blocker, and was a member of the team that won the bronze medal at the World Championship. After playing for the U.S. national team, Watts played volleyball professionally in Italy for teams in Modena, Latina and Milan.

Watts graduated from BYU with a B.S. in psychology, and later graduated from the University of San Diego with a J.D. and M.B.A. In 2006, Watts was inducted into the BYU Athletic Hall of Fame.

Watts currently resides in San Diego, California with his wife, Manuela, where Watts practices law as a business law, IP law and real estate law attorney.

Hotchpot

In civil and property law, hotchpot (sometimes referred to as hotchpotch or the hotchpotch rule) is the blending, combining or offsetting of property (typically gifts) to ensure equality of a later division of property.The name hotch-pot is taken from a kind of pudding, and is derived from the French word hocher, or "shake." It was used as early as 1292 as a legal term, and from the 15th century in cooking for a sort of broth with many ingredients (see Hodge-Podge soup), and so it is used figuratively for any heterogeneous mixture.

Incorporation by reference

Incorporation by reference is the act of including a second document within another document by only mentioning the second document. This act, if properly done, makes the entire second document a part of the main document. Incorporation by reference is often done in creating laws as well as in contract law and trust and estate law.

In law regarding wills, it is a doctrine at common law which allows a testator, or a creator of a will, to dispose of assets in his estate in accordance with a separate document. To be valid, such a document must comply with the following requirements:

it must have existed at the time the will was executed;

the will must describe the document with particularity, so that it may be identified; and

the will must clearly manifest the intent that the document be incorporated.An exception to the first requirement is made for small gifts of tangible personal property, such as household furniture and items of sentimental value.

Oral instructions can not be subject to incorporation by reference. For example, if a testator states in the will that he has recited to a third party the intended disposition of testamentary assets, such attempt to circumvent the requirements of a written will is void.

In administrative law, incorporation by reference is a drafting tool that enables federal agencies to give legal effect to materials that are already published elsewhere. This is allowed under a provision of the Freedom of Information Act, 5 U.S.C. § 552(a)(1). Section 552(a) requires agencies to publish regulations in the Federal Register in order to enforce them. Section 552(a)(1) provides that if material published elsewhere is "reasonably available to the class of persons affected" and the Director of the Federal Register approves its incorporation by reference, that material will be "deemed published" in the Federal Register. It is most controversially used to incorporate privately authored voluntary consensus standards into health and safety regulations without infringing the standards developers' copyright. Federal law and policy, embodied in the National Technology Transfer and Advancement Act of 1995 and Office of Management and Budget (OMB) Circular A-119, requires federal agencies to use these standards instead of creating "government-unique" technical standards purely to serve regulatory purposes.In some countries, a specification of a patent application may incorporate by reference the content of a previous patent, patent application, or non-patent publication. The information incorporated by reference is treated as part of the text of the application as filed.

Ira Brad Matetsky

Ira Brad Matetsky (b. 1962) is an American lawyer and Wikipedian.

Matetsky has practiced law since 1987, and has been a partner at Ganfer Shore Leeds & Zauderer, a New York City business litigation and real estate law firm, since 2004, working in both their litigation practice group and their cooperative and condominium housing practice group. Before joining Ganfer & Shore, he was a litigation attorney at Skadden, Arps, Slate, Meagher & Flom, after which he served as co-general counsel at Goya Foods, Inc. He is the editor-in-chief of The Journal of In-Chambers Practice and an editor of the Green Bag Almanac & Reader. He has been cited as a legal expert by media sources including CNBC, Vanity Fair, The Washington Post, and The National Law Journal.He has been a guest blogger for Eugene Volokh's blog The Volokh Conspiracy. Among the clients he has represented while working at Ganfer & Shore is Morris Talansky, on whose behalf he filed a suit against the Israeli satellite company ImageSat International in 2007. The suit was dismissed the following year.On Wikipedia, he is known by his username Newyorkbrad, and has been a member of the site's Arbitration Committee. He began editing Wikipedia in 2005, on the same day that United States Supreme Court Justice William Rehnquist died, as he noticed and corrected a factual error on Rehnquist’s Wikipedia page. He served on the English Wikipedia's Arbitration Committee from 2008 to 2014, and rejoined it in 2017, making him the Committee's longest-serving member.As of 2016, Matetsky also serves as the "werowance" (or president) of the Wolfe Pack, an organization of fans of Rex Stout's most famous fictional detective, Nero Wolfe. In 2015, Matetsky edited The Last Drive and Other Stories, a collection of Stout's earliest published work.

Property law

Property law is the area of law that governs the various forms of ownership and tenancy in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. In the civil law system, there is a division between movable and immovable property. Movable property roughly corresponds to personal property, while immovable property corresponds to real estate or real property, and the associated rights, and obligations thereon.

The concept, idea or philosophy of property underlies all property law. In some jurisdictions, historically all property was owned by the monarch and it devolved through feudal land tenure or other feudal systems of loyalty and fealty.

Though the Napoleonic code was among the first government acts of modern times to introduce the notion of absolute ownership into statute, protection of personal property rights was present in medieval Islamic law and jurisprudence, and in more feudalist forms in the common law courts of medieval and early modern England as well

Real estate

Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing."

It is a legal term used in jurisdictions whose legal system is derived from English common law, such as India, England, Wales, Northern Ireland, United States, Canada, Pakistan, Australia, and New Zealand.

Real property administrator

The real property administrator (RPA) designation is a professional designation for people who work in property management. The designation is administered by Building Owners and Managers Institute (BOMI) International, an independent nonprofit institute for property and facility management education.The designation requires the completion of eight courses (available online, by textbook study or in a classroom format) as well as three years of qualifying, documented experience in property management at a property 50,000 square feet (4,600 m2) or larger. BOMI International courses are often conducted by BOMA (Building Owners and Managers Association) local organizations as an educational benefit for their members, and by corporations as part of their internal training for property management professionals. Approximately 4,200 persons maintain the RPA designation, including about 3,500 in the United States and 700 in Canada.

The program includes coursework on building systems design, operation, and maintenance; commercial real estate law; investment and finance; risk management and insurance; leasing and marketing; asset management; environmental health and safety; and business ethics.

Relict

A relict is a surviving remnant of a natural phenomenon.

In biology a relict (or relic) is an organism that at an earlier time was abundant in a large area but now occurs at only one or a few small areas.

In ecology, an ecosystem which originally ranged over a large expanse, but is now narrowly confined, may be termed a relict.

In geology, a relict is a structure or mineral from a parent rock that did not undergo metamorphosis when the surrounding rock did, or a rock that survived a destructive geologic process.

In geomorphology, a relict landform is a landform formed by either erosive or constructive surficial processes that are no longer active as they were in the past.

In agronomy, a relict crop is a crop which was previously grown extensively, but is now only used in one limited region, or a small number of isolated regions.

In history (as revealed in DNA testing), a relict population is an ancient people in an area who have been largely supplanted by a later group of migrants and their descendants.

In real estate law, reliction is the gradual recession of water from its usual high-water mark so that the newly uncovered land becomes the property of the adjoining riparian property owner.Other uses:

In addition, relict was an ancient term still used in colonial (British) America, and in England of that era, but now archaic, for a widow; it has come to be a generic or collective term for widows and widowers.

In historical linguistics, a relict is a word that is a survivor of a form or forms that are otherwise archaic.

Ricky Meléndez

Ricky Meléndez (born Ricardo Omar Meléndez Suárez, November 22, 1967 in Hato Rey, Puerto Rico) is a Puerto Rican singer, lawyer and actor. He was raised in Guaynabo. He became a member of Menudo at the age of eight. He was one of the original five in the group. He is the cousin of group founder Edgardo Diaz. As a member of Menudo, he acted in two films: Menudo: La Pelicula and Una Aventura Llamada Menudo.

Meléndez retired from Menudo in 1984 at the mandatory age of 16, but since he had started at age nine, he became the member of Menudo who was in the group the longest time, eight years. He gave up his place to Ricky Martin. His final concert with Menudo was in Caguas.

Once Meléndez left Menudo, he tried various business ventures, including a shop at Plaza Las Americas in San Juan, and became a lawyer. In 1998, he got together with former bandmates Rene Farrait, Johnny Lozada, Ray Reyes, Charlie Masso and Miguel Cancel to make a comeback tour under the name of El Reencuentro. They toured the world.Meléndez was the voice responsible for Menudo super hits "Y Yo No Bailo" and "Cámbiale Las Pilas".

Meléndez now lives in San Juan with his wife and children and practices corporate and real estate law at Pietrantoni Mendez & Alvarez LLP.

Meléndez also attended the University of Central Florida where he took several broadcasting classes.

Robert Marland

Robert Davies Marland (born 13 May 1964 in Mississauga, Ontario) is a retired rower from Canada. He competed in two consecutive Summer Olympics for his native country, starting in 1988. At his second appearance, he was a member of the team that won the gold medal in the men's Eights.

Currently, Rob lives and works in Ottawa, Ontario for Royal LePage, a Canadian real estate franchiser. Rob is one of Canada's most successful realtors and his focus on delivering results has placed Rob among the top one percent of Royal LePage realtors in Canada, earning him the National Chairman's Club Award.He holds a B.A. in Economics from Trent University. He has also completed Real Estate Phase I, II & III, Real Estate Law, and Appraisal from the Ontario Real Estate Association.

Rob Marland is married to Jane Forsyth. Together, they have three children, all girls: Kate, Annie, and Molly Marland.

Robert Todd Lytle

Robert Todd Lytle (May 19, 1804 – December 22, 1839) was a politician who represented Ohio in the United States House of Representatives from 1833 to 1835.

Lytle was born in Williamsburg, Ohio, a nephew of John Rowan. He attended the common schools and Cincinnati College, and studied law in Louisville, Kentucky, where he was admitted to the bar in 1824. He commenced the practice of his profession in Cincinnati, Ohio.

Married Elizabeth Haines of New Jersey November 30, 1825. They had a son William Haines Lytle, and two daughters, Josephine R., and Elizabeth Haines Lytle.He was elected county prosecuting attorney, and a member of the State house of representatives in 1828 and 1829. He was then elected as a Jacksonian to the Twenty-third Congress and served from March 4, 1833, until March 10, 1834, when he resigned. He was subsequently reelected to fill the vacancy caused by his own resignation and served from December 27, 1834, to March 3, 1835.

After running as an unsuccessful candidate for reelection in 1834 to the Twenty-fourth Congress, Lytle resumed his law practice, focusing principally on real estate law. He served as Surveyor General of the Northwest Territory in 1834-1838, and major general of Ohio Militia in 1838.

Lytle died in New Orleans, Louisiana on December 22, 1839. He was buried in Spring Grove Cemetery in Cincinnati.

Tenement (law)

A tenement (from the Latin tenere to hold), in law, is anything that is held, rather than owned. This usage is a holdover from feudalism, which still forms the basis of all real-estate law in the English-speaking world, in which the monarch alone owned the allodial title to all the land within his kingdom.

Under feudalism, land itself was never privately "owned" but rather was "held" by a tenant (from Latin teneo "to hold") as a fee, being merely a legal right over land known in modern law as an estate in land. This was held from a superior overlord, ( a mesne lord), or from the crown itself in which case the holder was termed a tenant-in-chief, upon some manner of service under one of a variety of feudal land tenures. The thing held is called a tenement, the holder is called a tenant, the manner of his holding is called a tenure, and the superior is called the landlord, or lord of the fee. These forms are still preserved in law, even though feudalism itself is extinct, because all real estate law has developed from them over centuries.

Feudal land tenure existed in many varieties. The sole surviving form in the United States is that species of freehold known as free socage. Here the service to be performed is known and fixed, and not of a base or servile nature; the "lord of the fee" is the State itself, and the service due to this "lord" is payment of the taxes upon the real estate. The major consequences, in the modern world, of this feudal approach, as distinguished from ownership, are, first, the forfeiture of the tenement upon failure to perform the service (that is, non-payment of taxes), and second, the doctrine of eminent domain, whereby the "lord of the fee" might take back the estate, provided he make just compensation. Also existing in a vestigial form is the concept of escheat, under which an estate of a holder without heirs returns to the ownership of the state.

An interesting side effect of this is that government entities do not pay real estate taxes to other government entities since government entities own the land rather than hold the land. Localities that depend on real estate taxes to provide services are often put at a disadvantage when the state or federal government acquires a piece of land. Sometimes, to mollify local public opinion, the state or federal government may volunteer to make payments in lieu of taxes (PILOT or PILT programs) to local governments.

WSKY-FM

WSKY-FM (97.3 MHz) is a commercial FM radio station licensed to Micanopy, Florida, and serving the Gainesville-Ocala, Florida radio market. The station airs a talk radio format and is owned by Entercom Communications.WSKY carries a local weekday morning talk and information show, followed by nationally syndicated talk programs. They include Laura Ingraham, Rush Limbaugh, Sean Hannity, Mark Levin, Michael Savage, Beyond Reality Radio, Coast to Coast AM with George Noory and This Morning, America's First News with Gordon Deal. Weekends feature shows on money, health, real estate, law, gardening, computers and cigars, some of which are paid brokered programming. Hosts include Kim Komando, Bill Handel, Clark Howard and Bill Cunningham. Most hours begin with world and national news from ABC Radio News.

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