Terms Used In California Codes > Health and Safety Code > Division 104 > Part 13

• Amortization: Paying off a loan by regular installments.
• 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.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Approved lending institution: means a qualified mortgage lender approved by the agency for participation in a program of loan insurance, including those successors and assigns of any such institution as are permitted by the agency. See California Probate Code 16326
• area median income: means the median family income of a geographic area of the state, as annually estimated by the United States Department of Housing and Urban Development pursuant to Section 8 of the United States Housing Act of 1937. See California Probate Code 5612
• board of directors: means the Board of Directors of the California Housing Finance Agency. See California Probate Code 16326
• Bond reserve requirement: means an amount specified by the agency which shall, as of any particular date of computation, be at least equal to the total of both of the following:

  California Probate Code 16326

• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• creditor: means the state or the department or agency of the state seeking to collect the liability. See California Code of Civil Procedure 688.040
• Customer: means a person or entity that purchases water from a retail water supplier. See California Health and Safety Code 117550
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• debtor: means the debtor from whom the liability is sought to be collected. See California Code of Civil Procedure 688.040
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Devise: To gift property by will.
• Donor: The person who makes a gift.
• Entity responsible for groundwater replenishment: means any person or entity authorized by statute or court order to manage a groundwater basin and acquire water for groundwater replenishment. See California Health and Safety Code 117550
• 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}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Ex officio: Literally, by virtue of one's office.
• Executive director: means the Executive Director of the California Housing Finance Agency. See California Probate Code 16326
• 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.
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• insurance fund: means the California Housing Loan Insurance Fund, which is hereby created. See California Probate Code 16326
• Insurance reserve requirement: means an amount established by the agency, which shall, as of any particular date of computation, be at least equal to the total of both of the following:

  California Probate Code 16326

• Insured loan: means a loan insured pursuant to Chapter 4 (commencing with Section 51650). See California Probate Code 16326
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Local agency: as used in this chapter , means a local agency as defined in Section 66000. See California Insurance Code 930
• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage guaranty insurance: means either of the following:

  California Probate Code 16326

• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Multifamily residential housing: means an improvement on real estate which is a building or buildings containing five or more residential units. See California Probate Code 16326
• Navigable waters: means all public waters of the state in any river, stream, lake, reservoir, or other body of water, including all salt water bays, inlets, and estuaries within the jurisdiction of the state. See California Health and Safety Code 117510
• Oversight: Committee review of the activities of a Federal agency or program.
• Person: includes any city, county, district, the state, and the United States, to the extent authorized by federal law. See California Health and Safety Code 116410
• Personal property: All property that is not real property.
• Persons and families of low or moderate income: includes very low income households, as defined in Section 50105, extremely low income households, as defined in Section 50106, and lower income households as defined in Section 50079. See California Probate Code 5612
• Persons and families of low or moderate income: means "persons and families of low or moderate income" as defined in Section 50093. See California Probate Code 16326
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Probate: Proving a will
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Qualified nonprofit organization: means an organization with experience in providing financial and technical assistance to disadvantaged communities that is qualified to operate in California and qualified for exempt status under Section 501(c)(3) of the Internal Revenue Code. See California Health and Safety Code 117420
• Recycled water: means water which, as a result of treatment of waste, is suitable for a direct beneficial use or a controlled use that would not otherwise occur and is therefor considered a valuable resource. See California Health and Safety Code 116410
• Recycled water producer: means any local public entity that produces recycled water. See California Health and Safety Code 117550
• Recycled water wholesaler: means any local public entity that distributes recycled water to retail water suppliers and which has constructed, or is constructing, a recycled water distribution system. See California Health and Safety Code 117550
• 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.
• Retail water supplier: means any local entity, including a public agency, city, county, or private water company, that provides retail water service. See California Health and Safety Code 117550
• Retailer: means the retail water supplier in whose service area is located the property to which a customer requests the delivery of recycled water service. See California Health and Safety Code 117550
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• Service of process: The service of writs or summonses to the appropriate party.
• Single-family residential housing: means an improvement on real estate which is a building or a condominium unit or buildings containing one to four units. See California Probate Code 16326
• Small water system: means a system for the provision of piped water to the public for human consumption that serves at least two, but not more than 14, service connections and is not a public water system as defined in Section 116275 of the Health and Safety Code. See California Health and Safety Code 117420
• State board: means the State Water Resources Control Board. See California Health and Safety Code 116410
• Summons: Another word for subpoena used by the criminal justice system.
• Testator: A male person who leaves a will at death.
• Trustee: A person or institution holding and administering property in trust.
• Vessel: means every description of craft or other contrivance used, or capable of being used, as a means of transportation in or on water. See California Health and Safety Code 117510
• Waste: includes sewage and any and all other waste substances, liquid, solid, gaseous, or radioactive, associated with human habitation, or of human or animal origin, or from any producing, manufacturing, or processing operation, including waste placed within containers of whatever nature prior to, and for purposes of, disposal. See California Health and Safety Code 116410
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.