Terms Used In Florida Statutes > Chapter 380 > Part III - Florida Communities Trust

• 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.
• 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
• committee: means a committee appointed pursuant to…. 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.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• 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.
• 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;
  (d) Any school board or other special district, authority, or other governmental entity. See Florida Statutes 380.031
• 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
• Land use: means the development that has occurred on 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• 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 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
• 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
• 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.
• 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.
• Rule: means a rule adopted under chapter 120. See Florida Statutes 380.031
• writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01