Terms Used In California Codes > Public Resources Code > Division 6 > Part 3 > Chapter 4 > Article 10 - State Maps and Surveys

• Amortization: Paying off a loan by regular installments.
• 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.
• County: includes city and county. See California Health and Safety Code 14
• Deed: The legal instrument used to transfer title in real property from one person to another.
• department: means State Department of Health Services. See California Health and Safety Code 20
• department: means the Department of Water Resources. See California Public Resources Code 8001
• 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}
• 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.
• 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}
• median household income: means the highest of (A) statewide median household income, (B) countywide median household income, or (C) median family income for area as determined by the United States Department of Housing and Urban Development, with respect to either a standard metropolitan statistical area or an area outside of a standard metropolitan statistical area. See California Health and Safety Code 52020.5
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• 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
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
• substantial rehabilitation: means rehabilitation in which the costs of rehabilitation equal or exceed 20 percent of the value of the structure after rehabilitation. See California Health and Safety Code 52020.5
• Trustee: A person or institution holding and administering property in trust.