Terms Used In California Codes > Public Resources Code > Division 3 > Chapter 3.5 - Unit Operation

• 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.
• Amortization: Paying off a loan by regular installments.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appraisal: A determination of property value.
• 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 Health and Safety Code 51603
• 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 Health and Safety Code 50093
• Arrest: Taking physical custody of a person by lawful authority.
• board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
• board of directors: means the Board of Directors of the California Housing Finance Agency. See California Health and Safety Code 51603
• 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 Health and Safety Code 51603

• Controller: means the State Controller. See California Revenue and Taxation Code 21
• County: includes "city and county. See California Public Resources Code 14
• County: includes city and county. See California Revenue and Taxation Code 15
• Director: means "State Director of Health Services. See California Health and Safety Code 21
• 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 Health and Safety Code 51603
• Executor: A male person named in a will to carry out the decedent
• 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.
• insurance fund: means the California Housing Loan Insurance Fund, which is hereby created. See California Health and Safety Code 51603
• 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 Health and Safety Code 51603

• Insured loan: means a loan insured pursuant to Chapter 4 (commencing with Section 51650). See California Health and Safety Code 51603
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage guaranty insurance: means either of the following:

  California Health and Safety Code 51603

• Mortgage loan: means any residential mortgage loan or multifamily rental housing loan. See California Health and Safety Code 51401
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Multifamily rental housing: means any existing structure of more than four dwelling units or any work or undertaking of more than four units of new construction, improvement, or rehabilitation for the provision of housing. See California Health and Safety Code 51401
• Multifamily residential housing: means an improvement on real estate which is a building or buildings containing five or more residential units. See California Health and Safety Code 51603
• partnership: shall include limited liability company, registered limited liability partnership, and foreign limited liability partnership, except where the context or the specific provisions of this division otherwise require. See California Revenue and Taxation Code 28.5
• Person: includes any person, firm, partnership, general partner of a partnership, limited liability company, registered limited liability partnership, foreign limited liability partnership, association, corporation, company, syndicate, estate, trust, business trust, or organization of any kind. See California Revenue and Taxation Code 19
• Persons and families of low or moderate income: means "persons and families of low or moderate income" as defined in Section 50093. See California Health and Safety Code 51603
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• property: includes property real and personal. See California Civil Code 14
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Qualified developer: means a housing sponsor which is certified by the agency to be qualified according to experience, financial capability, and any other pertinent criteria as the fund may establish to carry out rehabilitation and new construction with loans insured pursuant to this part. See California Health and Safety Code 51603
• Residence: means any existing structure of one to four dwelling units or any work or undertaking of one to four dwelling units of new construction, improvement, or rehabilitation for the provision of housing. See California Health and Safety Code 51401
• 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 Health and Safety Code 51603
• Spouse: includes "registered domestic partner" as required by §. See California Revenue and Taxation Code 12.2
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Tax: as used in this part , except in Chapters 4 (commencing with Section 32151) and 5 (commencing with Section 32201), means the excise tax imposed by this part on beer or wine or on distilled spirits. See California Revenue and Taxation Code 32004
• Taxable securities: means securities bearing interest that is otherwise taxable under the personal income tax provisions of federal tax law and which are issued to finance the purchase or making of mortgage loans pursuant to this chapter. See California Health and Safety Code 51401
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Venue: The geographical location in which a case is tried.
• will: includes codicil. See California Civil Code 14
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.