Terms Used In California Codes > Civil Code > Division 3 > Part 2 > Title 5 > Chapter 2.5 - Home Equity Sales Contracts

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Board of supervisors: as used in this part , means the board of supervisors of a county in the San Francisco Bay area. See California Public Utilities Code 28507
• City: includes city and county and "incorporated town" but does not include "unincorporated town" or "village. See California Public Utilities Code 19
• COIN ordinance: means an ordinance adopted by a city, county, city and county, or special district that requires any of the following as a part of any collective bargaining process undertaken pursuant to the Meyers-Milias-Brown Act (Chapter 10 (commencing with Section 3500) of Division 4 of Title 1 of . See California Public Contract Code 22176
• Commission: means the Public Utilities Commission created by §. See California Public Utilities Code 20
• county: includes "city and county". See California Penal Code 7
• County: includes city and county. See California Public Utilities Code 18
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Devise: To gift property by will.
• directors: as used in this part , means the board of directors of the district. See California Public Utilities Code 28508
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• knowingly: import s only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See California Penal Code 7
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• license: shall include a permit or a certificate issued by a state agency. See California Penal Code 23
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• magistrate: signifies any one of the officers mentioned in Section 808. See California Penal Code 7
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Multiple award: means a contract of indefinite quantity for one or more similar goods, information technology, or services to more than one supplier. See California Public Contract Code 12100.7
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Oath: includes affirmation. See California Public Utilities Code 15
• Oath: A promise to tell the truth.
• peace officer: signify any one of the officers mentioned in Chapter 4. See California Penal Code 7
• person: includes a corporation as well as a natural person. See California Penal Code 7
• Personal property: All property that is not real property.
• Policies: means determining what information technology goods or services are to be purchased and by whom. See California Public Contract Code 12100.7
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Procedures: means the rules, methods, and practices to be followed in conducting information technology procurements. See California Public Contract Code 12100.7
• property: includes both real and personal property. See California Penal Code 7
• Public agency: as used in this part , includes the State of California, and any county, city and county, city, district, or other political subdivision or public entity of, or organized under the laws of, this State. See California Public Utilities Code 28509
• Quorum: The number of legislators that must be present to do business.
• Rapid transit: as used in this part , means the transportation of passengers and their incidental baggage by any means. See California Public Utilities Code 28505
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
• San Francisco Bay area: as used in this part , means the Counties of San Francisco, Marin, Sonoma, Napa, Solano, Contra Costa, Alameda, Santa Clara and San Mateo. See California Public Utilities Code 28504
• spouse: includes a registered domestic partner, as required by §. See California Civil Code 14
• state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the district and territories. See California Penal Code 7
• State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
• Statute: A law passed by a legislature.
• taxable property: as used in this part , shall not include solvent credits. See California Public Utilities Code 28506
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trustee: A person or institution holding and administering property in trust.
• will: includes codicil. See California Civil Code 14
• will: includes codicil. See California Penal Code 7
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.