Terms Used In California Codes > Business and Professions Code > Division 4 > Part 1 > Chapter 3 > Article 5 - Transactions in Trust Deeds and Real Property Sales Contracts

• Acquiring district: means a district in which all or a part of a state-aided district or an applicant district has been included. See California Education Code 16150
• Action: includes a civil action and a criminal action. See California Evidence Code 105
• Administrative officer: means the chief administrative officer, county administrator, county executive, county manager, or other officials employed in the several counties under various titles whose duties and responsibilities are comparable to the officials named herein. See California Government Code 29001
• Adopted budget: means the budget document formally approved by the board of supervisors after the required public hearings and deliberations on the recommended budget. See California Government Code 29001
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
• Arrest: Taking physical custody of a person by lawful authority.
• assessed value: means 25 percent of full value to, and including, the 1980-81 fiscal year, and 100 percent of full value for the 1981-82 fiscal year and fiscal years thereafter. See California Government Code 25
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Auditor: means the county auditor or that officer whose responsibilities include those designated in Chapter 4 (commencing with Section 26900) of Division 2. See California Government Code 29001
• Authority: means the Tri-Valley-San Joaquin Valley Regional Rail Authority created under this chapter. See California Public Utilities Code 132651
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the board of supervisors of the county, or the same body acting as the governing board of a special district whose affairs and finances are under its supervision and control. See California Government Code 29001
• Board: means the governing board of the authority. See California Public Utilities Code 132651
• board: means the Livestock Identification Advisory Board. See California Food and Agricultural Code 20461
• Board: means the State Allocation Board. See California Education Code 16002
• Budget year: means the fiscal year (July 1 through June 30) for which the budget is being prepared. See California Government Code 29001
• business opportunity: shall include the sale or lease of the business and goodwill of an existing business enterprise or opportunity. See California Business and Professions Code 10030
• candidate: includes any officeholder who is subject to a recall election. See California Elections Code 305
• Chambers: A judge's office.
• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• City: includes city and county. See California Business and Professions Code 18
• City: includes city and county and "incorporated town" but does not include "unincorporated town" or "village. See California Public Utilities Code 19
• Clerk: means the county elections official, registrar of voters, city clerk, or other officer or board charged with the duty of conducting any election. See California Elections Code 307
• commission: means a county transportation commission created pursuant to Chapter 2 (commencing with Section 130050). See California Public Utilities Code 130002
• Commission: means the Public Utilities Commission created by §. See California Public Utilities Code 20
• Commissioner: means any county agricultural commissioner. See California Food and Agricultural Code 26
• committee: means the chief administrative officer, auditor, and treasurer, or any other county employee appointed by the board of supervisors. See California Government Code 29831
• compensation: means the remuneration paid out of funds controlled by the employer in payment for the member's services performed during normal working hours or for time during which the member is excused from work because of any of the following:

  California Government Code 20630

• Conduct: includes all active and passive behavior, both verbal and nonverbal. See California Evidence Code 125
• Connectivity: means one or more projects necessary to achieve transit connectivity between BART's rapid transit system and the San Joaquin Regional Rail Commission's Altamont Corridor Express commuter rail service, and to provide quality, seamless service to riders using the services operating between the Tri-Valley and the San Joaquin Valley. See California Public Utilities Code 132651
• Contract: A legal written agreement that becomes binding when signed.
• Controller: means the State Controller. See California Government Code 29001
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• County: includes city and county. See California Government Code 19
• County: includes city and county. See California Business and Professions Code 17
• County: includes "city and county. See California Public Resources Code 14
• County: includes city and county. See California Public Utilities Code 18
• County: includes city and county. See California Food and Agricultural Code 29
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Criminal action: includes criminal proceedings. See California Evidence Code 130
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• deed of trust: as used in this part includes "mortgage. See California Business and Professions Code 10028
• Department: means the Department of Food and Agriculture. See California Food and Agricultural Code 32
• Dependent: A person dependent for support upon 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.
• Director: means the Director of Education for kindergarten and grades 1 to 12, inclusive. See California Education Code 16002
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Donor: The person who makes a gift.
• Election: means any election including a primary that is provided for under this code. See California Elections Code 318
• Elections official: means any of the following:

  California Elections Code 320

• Elector: means a person who is a United States citizen 18 years of age or older and, except as specified in subdivision (b), is a resident of an election precinct in this state on or before the day of an election. See California Elections Code 321
• 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.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Evidence: means testimony, writings, material objects, or other things presented to the senses that are offered to prove the existence or nonexistence of a fact. See California Evidence Code 140
• Ex officio: Literally, by virtue of one's office.
• 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.
• Final budget: means the adopted budget adjusted by all revisions throughout the fiscal year as of June 30. See California Government Code 29001
• fireman: as used in this part , also includes persons employed in positions set forth in Sections 20414, 20423. See California Government Code 22013.7
• Fiscal year: means the current 12-month period to which the annual operating budget applies and at the end of which a government determines its financial position and the results of its operations. See California Government Code 29001
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• General election: means either of the following:

  California Elections Code 324

• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• group or class of employment: means a number of employees considered together because they share similarities in job duties, work location, collective bargaining unit, or other logical work-related grouping. See California Government Code 20636
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• hearing: means the hearing at which a question under this code arises, and not some earlier or later hearing. See California Evidence Code 145
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Law: includes constitutional, statutory, and decisional law. See California Evidence Code 160
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Legacy: A gift of property made by will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
• Licensee: means any person authorized by a license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Sections 1000 and 3600. See California Business and Professions Code 23.8
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Local election: is a municipal, county, or district election. See California Elections Code 328
• Measure: means any constitutional amendment or other proposition submitted to a popular vote at any election. See California Elections Code 329
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• multicounty designated transportation planning agency: means the Southern California Association of Governments. See California Public Utilities Code 130004
• National emergency: as used in this part means any period in which the United States is at war prior to the declaration by the Governor of a state military emergency. See California Government Code 18540.1
• Notice: includes all papers and orders required to be served in any proceedings before any court, board, or officer, or when required by law to be served independently of such proceeding. See California Government Code 26660
• Oath: includes affirmation. See California Elections Code 335
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• officer of the county: includes any elective or appointive officer of a county and any person in charge of any office, department, service, or institution of the county, or a division or branch thereof. See California Government Code 29320
• Original bill: A bill which is drafted by a committee. It is introduced by the committee or subcommittee chairman after the committee votes to report it.
• Original district: means a state-aided or applicant district included in whole or in part in an acquiring district. See California Education Code 16150
• Oversight: Committee review of the activities of a Federal agency or program.
• Party: means a political party or organization that has qualified for participation in any primary or presidential general election. See California Elections Code 338
• Payrate: means the normal monthly rate of pay or base pay of the member paid in cash to similarly situated members of the same group or class of employment for services rendered on a full-time basis during normal working hours, pursuant to publicly available pay schedules. See California Government Code 20636
• Person: includes any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Government Code 17
• Person: includes a natural person, firm, association, organization, partnership, business trust, corporation, limited liability company, or public entity. See California Evidence Code 175
• Person: means any individual, partnership, association, corporation, limited liability company, or any organized group of persons whether incorporated or not. See California Food and Agricultural Code 38
• Personal property: All property that is not real property.
• Policeman: as used in this part includes members of the California Highway Patrol, state safety members of the Public Employees' Retirement System employed by the Department of Justice, sheriffs, undersheriffs, deputy sheriffs, marshals and deputy marshals, and any other employee of a public agency other than the state or University of California in a position designated as a policeman's position by the board for the purposes of Section 218(d)(5)(A) of the Social Security Act. See California Government Code 22013
• Precinct: means a geographical area within a county that is made up of voters and is formed pursuant to Chapter 3 (commencing with Section 12200) of Division 12. See California Elections Code 338.6
• precinct board: means the board appointed by the elections official to serve at a vote center. See California Elections Code 339
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Primary election: includes all primary nominating elections provided for by this code. See California Elections Code 341
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• Process: includes a writ or summons issued in the course of judicial proceedings of either a civil or criminal nature. See California Government Code 22
• project: shall be deemed to include any or all of the purposes for which a school district has applied for apportionments under this chapter, pursuant to any regulations that the State Allocation Board may adopt. See California Education Code 16002
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public entity: includes a nation, state, county, city and county, city, district, public authority, public agency, or any other political subdivision or public corporation, whether foreign or domestic. See California Evidence Code 200
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property sales contract: as used in this part is an agreement wherein one party agrees to convey title to real property to another party upon the satisfaction of specified conditions set forth in the contract and which does not require conveyance of title within one year from the date of formation of the contract. See California Business and Professions Code 10029
• Recommended budget: means the budget document recommended to the board of supervisors by the designated county official. See California Government Code 29001
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Recovery Account: shall be deemed to refer to the Consumer Recovery Account. See California Business and Professions Code 10450.6
• Regular election: is a n election, the specific time for the holding of which is prescribed by law. See California Elections Code 348
• 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).
• Salesperson: when used without modification, means a person licensed as a salesperson under any of the provisions of this part. See California Business and Professions Code 10013
• Secretary: means the Secretary of Food and Agriculture. See California Food and Agricultural Code 35
• Sell: includes offer for sale, expose for sale, possess for sale, exchange, barter, or trade. See California Food and Agricultural Code 44
• Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Signature: includes either of the following:

  California Elections Code 354.5

• Special election: is a n election, the specific time for the holding of which is not prescribed by law. See California Elections Code 356
• Spouse: includes "registered domestic partner" as required by §. See California Public Utilities Code 12.2
• State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
• State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21
• State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
• State: means the State of California, unless applied to the different parts of the United States. See California Evidence Code 220
• state agency: includes every state office, officer, department, division, bureau, board, and commission. See California Government Code 11000
• State military emergency: as used in this part , means an emergency declared and terminable by the Governor by proclamation during, but not limited to, such times as the United States is conscripting personnel for service in the armed forces. See California Government Code 18540.2
• State-aided district: means a district to which a conditional or final apportionment has been made under this chapter. See California Education Code 16150
• Statewide election: is a n election held throughout the state. See California Elections Code 357
• Statute: A law passed by a legislature.
• Subdivision: means a subdivision of the section in which that term occurs, unless some other section is expressly mentioned. See California Business and Professions Code 15
• Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Public Utilities Code 10
• Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Food and Agricultural Code 49
• Subdivision: means a subdivision of the section in which the term occurs unless some other section is expressly mentioned. See California Government Code 10
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Tri-Valley: means the Cities of Danville, Dublin, Livermore, Pleasanton, and San Ramon. See California Public Utilities Code 132651
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• Voter: means any elector who is registered under this code. See California Elections Code 359
• Voter-nominated office: means a congressional or state elective office for which a candidate may choose to have his or her party preference or lack of party preference indicated upon the ballot. See California Elections Code 359.5
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.