Terms Used In Florida Statutes > Chapter 720 > Part II
Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Assignee: means a natural person solely in such person's capacity as an assignee for the benefit of creditors under the provisions of this chapter, which assignee shall not be a creditor or an equity security holder or have any interest adverse to the interest of the estate. See Florida Statutes 720.307
Assignor: means the person or entity that has executed and delivered the assignment to the assignee. See Florida Statutes 720.307
association: means a Florida corporation responsible for the operation of a community or a mobile home subdivision in which the voting membership is made up of parcel owners or their agents, or a combination thereof, and in which membership is a mandatory condition of parcel ownership, and which is authorized to impose assessments that, if unpaid, may become a lien on the parcel. See Florida Statutes 720.301
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Circumstantial evidence: All evidence except eyewitness testimony.
community: includes all real property, including undeveloped phases, that is or was the subject of a development-of-regional-impact development order, together with any approved modification thereto. See Florida Statutes 720.301
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.
Decedent: A deceased person.
declaration: means a recorded written instrument or instruments in the nature of covenants running with the land which subject the land comprising the community to the jurisdiction and control of an association or associations in which the owners of the parcels, or their association representatives, must be members. See Florida Statutes 720.301
Deed: The legal instrument used to transfer title in real property from one person to another.
Developer: means a person or entity that:
(a) Creates the community served by the association; or
(b) Succeeds to the rights and liabilities of the person or entity that created the community served by the association, provided that such is evidenced in writing. See Florida Statutes 720.301
Disclaimant: means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made. See Florida Statutes 731.1035
Disclaimed interest: means the interest that would have passed to the disclaimant had the disclaimer not been made. See Florida Statutes 731.1035
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.
Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
Fiduciary: means a personal representative, trustee, agent acting under a power of attorney, guardian, or other person authorized to act as a fiduciary with respect to the property of another person. See Florida Statutes 731.1035
Future interest: means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation. See Florida Statutes 731.1035
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Governing documents: means :
(a) The recorded declaration of covenants for a community and all duly adopted and recorded amendments, supplements, and recorded exhibits thereto;
(b) The articles of incorporation and bylaws of the homeowners' association and any duly adopted amendments thereto; and
(c) Rules and regulations adopted under the authority of the recorded declaration, articles of incorporation, or bylaws and duly adopted amendments thereto. See Florida Statutes 720.301
Grantor: The person who establishes a trust and places property into it.
Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
Intestate: Dying without leaving a will.
Jointly held property: means property held in the names of two or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property. See Florida Statutes 731.1035
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
Lien: A claim against real or personal property in satisfaction of a debt.
Member: means a member of an association, and may include, but is not limited to, a parcel owner or an association representing parcel owners or a combination thereof, and includes any person or entity obligated by the governing documents to pay an assessment or amenity fee. See Florida Statutes 720.301
Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, or any other legal or commercial entity or a government or governmental subdivision, agency, or instrumentality. See Florida Statutes 721.24
Person: includes individuals, ascertained and unascertained, living or not living, whether entitled to an interest by right of intestacy or otherwise; a government, governmental subdivision, agency, or instrumentality; and a public corporation. See Florida Statutes 731.1035
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 88.6011
Personal property: All property that is not real property.
Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
Probate: Proving a will
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Statute: A law passed by a legislature.
Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
Testate: To die leaving a will.
Time of distribution: means the time when a disclaimed interest would have taken effect in possession or enjoyment. See Florida Statutes 731.1035