Habeas Corpus Ad Subjiciendum at Legal Glossary
What is it? See habeas corpus.Law Definition Added By: Joshua
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Law Terms variance is An exception to a zoning ordinance, usually granted by a local government. For example, if you own an oddly shaped lot that could not accommodate a home in accordance with your citys setback requirement, you could apply at the appropriate office for a variance allowing you to build closer to a boundary line.Law Terms ademption is The failure of a bequest of property in a will. The gift fails (is adeemed) because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called ademption by satisfaction). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesnt get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, I leave to Rob the family vehicle, but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.
Law Terms adjustable rate mortgage (ARM) is A mortgage loan with an interest rate that fluctuates in accordance with a designated market indicator -- such as the weekly average of one-year U.S. Treasury Bills -- over the life of the loan. To avoid constant and drastic fluctuations, ARMs typically limit how often and by how much the interest rate can vary.
Law Terms easement is A right to use another persons real estate for a specific purpose. The most common type of easement is the right to travel over another persons land, known as a right of way. In addition, property owners commonly grant easements for the placement of utility poles, utility trenches, water lines or sewer lines. The owner of property that is subject to an easement is said to be burdened with the easement, because he or she is not allowed to interfere with its use. For example, if the deed to Johns property permits Sue to travel across Johns main road to reach her own home, John cannot do anything to block the road. On the other hand, Sue cannot do anything that exceeds the scope of her easement, such as widening the roadway.
Law Terms credit report is An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that dont belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).