Article 1 Sale of School Lands
Article 2 Indemnity Land Selections

Terms Used In California Codes > Public Resources Code > Division 6 > Part 3 > Chapter 1 - School Lands and Indemnity Lands

  • 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
  • board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • insurance fund: means the California Housing Loan Insurance Fund, which is hereby created. See 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
  • 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.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage guaranty insurance: means either of the following:

    California Health and Safety Code 51603

  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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.
  • 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
  • State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
  • 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