Amortization: Paying off a loan by regular installments.
Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
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
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
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.
commission: means the Governor and the Cabinet; and for purposes of this chapter the commission shall act on a simple majority. See Florida Statutes 380.031
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.
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.
Developer: means any person, including a governmental agency, undertaking any development as defined in this chapter. See Florida Statutes 380.031
Development order: means any order granting, denying, or granting with conditions an application for a development permit. See Florida Statutes 380.031
Development permit: includes any building permit, zoning permit, plat approval, or rezoning, certification, variance, or other action having the effect of permitting development as defined in this chapter. See Florida Statutes 380.031
Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
Donor: The person who makes a gift.
Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
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.
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.
Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
Felony: A crime carrying a penalty of more than a year in prison.
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Governmental agency: means :
(a) The United States or any department, commission, agency, or other instrumentality thereof;
(b) This state or any department, commission, agency, or other instrumentality thereof;
(c) Any local government, as defined in this chapter, or any department, commission, agency, or other instrumentality thereof;
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.
Land: means the earth, water, and air above, below, or on the surface, and includes any improvements or structures customarily regarded as land. See Florida Statutes 380.031
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.
Lien: A claim against real or personal property in satisfaction of a debt.
Local comprehensive plan: means any or all local comprehensive plans or elements or portions thereof prepared, adopted, or amended pursuant to the Community Planning Act, as amended. See Florida Statutes 380.031
Local government: means any county or municipality and, where relevant, any joint airport zoning board. See Florida Statutes 380.031
Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
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: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
Person: means an individual, corporation, governmental agency, business trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal entity. See Florida Statutes 380.031
Personal property: All property that is not real property.
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.
Regional planning agency: means the agency designated by the state land planning agency to exercise responsibilities under this chapter in a particular region of the state. See Florida Statutes 380.031
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.
Remand: When an appellate court sends a case back to a lower court for further proceedings.
Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.