Terms Used In Florida Statutes > Chapter 727 - General Assignments

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Assessment: means a share of the funds which are required for the payment of common expenses, which from time to time is assessed against the unit owner. See Florida Statutes 718.103
• Asset: means a legal or equitable interest of the assignor in property, which includes anything that may be the subject of ownership, whether real or personal, tangible or intangible, including claims and causes of action, whether arising by contract or in tort, wherever located, and by whomever held at the date of the assignment, except property exempt by law from forced sale. See Florida Statutes 727.103
• 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 727.103
• Assignment: means an assignment for the benefit of creditors made under this chapter. See Florida Statutes 727.103
• Assignor: means the person or entity that has executed and delivered the assignment to the assignee. See Florida Statutes 727.103
• Association: means , in addition to any entity responsible for the operation of common elements owned in undivided shares by unit owners, any entity which operates or maintains other real property in which unit owners have use rights, where membership in the entity is composed exclusively of unit owners or their elected or appointed representatives and is a required condition of unit ownership. See Florida Statutes 718.103
• Association property: means that property, real and personal, which is owned or leased by, or is dedicated by a recorded plat to, the association for the use and benefit of its members. See Florida Statutes 718.103
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• board: means the board of directors or other representative body which is responsible for administration of the association. See Florida Statutes 718.103
• Buyer: means a person who purchases a condominium unit. See Florida Statutes 718.103
• Bylaws: means the bylaws of the association as they are amended from time to time. See Florida Statutes 718.103
• Claims bar date: means the date that is 120 days after the date on which the petition is filed with the court. See Florida Statutes 727.103
• Common elements: means the portions of the condominium property not included in the units. See Florida Statutes 718.103
• Common expenses: means all expenses properly incurred by the association in the performance of its duties, including expenses specified in…. See Florida Statutes 718.103
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Condominium: means that form of ownership of real property created pursuant to this chapter, which is comprised entirely of units that may be owned by one or more persons, and in which there is, appurtenant to each unit, an undivided share in common elements. See Florida Statutes 718.103
• Condominium parcel: means a unit, together with the undivided share in the common elements appurtenant to the unit. See Florida Statutes 718.103
• Condominium property: means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium. See Florida Statutes 718.103
• Consensual lienholder: means a creditor that has been granted a security interest or lien in personal property or real property of the assignor prior to the date on which a petition is filed with the court and whose security interest or lien has been perfected in accordance with applicable law. See Florida Statutes 727.103
• Conspicuous type: means bold type in capital letters no smaller than the largest type, exclusive of headings, on the page on which it appears and, in all cases, at least 10-point type. See Florida Statutes 718.103
• Contract: A legal written agreement that becomes binding when signed.
• Court: means the circuit court where the petition is filed in accordance with…. See Florida Statutes 727.103
• Creditor: means any person having a claim against the assignor, whether such claim is contingent, liquidated, unliquidated, or disputed. See Florida Statutes 727.103
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• declaration of condominium: means the instrument or instruments by which a condominium is created, as they are from time to time amended. See Florida Statutes 718.103
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Developer: means a person who creates a condominium or offers condominium parcels for sale or lease in the ordinary course of business, but does not include:
  (a) An owner or lessee of a condominium or cooperative unit who has acquired the unit for his or her own occupancy;
  (b) A cooperative association that creates a condominium by conversion of an existing residential cooperative after control of the association has been transferred to the unit owners if, following the conversion, the unit owners are the same persons who were unit owners of the cooperative and no units are offered for sale or lease to the public as part of the plan of conversion;
  (c) A bulk assignee or bulk buyer as defined in…. See Florida Statutes 718.103
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Division: means the Division of Florida Condominiums, Timeshares, and Mobile Homes of the Department of Business and Professional Regulation. See Florida Statutes 718.103
• Docket: A log containing brief entries of court proceedings.
• 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}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Estate: means all of the assets of the assignor. See Florida Statutes 727.103
• 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.
• Filing date: means the date upon which the original petition is filed in accordance with…. See Florida Statutes 727.103
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Grantor: The person who establishes a trust and places property into it.
• 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 surface of a legally described parcel of real property and includes, unless otherwise specified in the declaration and whether separate from or including such surface, airspace lying above and subterranean space lying below such surface. See Florida Statutes 718.103
• 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.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien: means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien. See Florida Statutes 727.103
• Limited common elements: means those common elements which are reserved for the use of a certain unit or units to the exclusion of all other units, as specified in the declaration. See Florida Statutes 718.103
• Liquidation value: means the value in cash obtainable upon a forced sale of assets after payment of valid liens encumbering said assets. See Florida Statutes 727.103
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Multicondominium: means real property containing two or more condominiums, all of which are operated by the same association. See Florida Statutes 718.103
• Negative notice: means notice as set forth in…. See Florida Statutes 727.103
• oath: includes affirmations. See Florida Statutes 1.01
• Oath: A promise to tell the truth.
• 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.
• operation of the condominium: includes the administration and management of the condominium property and the association. See Florida Statutes 718.103
• 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.
• Petition: means the initial document filed with the court, as set forth in…. See Florida Statutes 727.103
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• registered mail: include certified mail with return receipt requested. See Florida Statutes 1.01
• Rental agreement: means any written agreement, or oral agreement if for less duration than 1 year, providing for use and occupancy of premises. See Florida Statutes 718.103
• 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.
• Residential condominium: means a condominium consisting of two or more units, any of which are intended for use as a private temporary or permanent residence, except that a condominium is not a residential condominium if the use for which the units are intended is primarily commercial or industrial and not more than three units are intended to be used for private residence, and are intended to be used as housing for maintenance, managerial, janitorial, or other operational staff of the condominium. See Florida Statutes 718.103
• 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.
• Structural integrity reserve study: means a study of the reserve funds required for future major repairs and replacement of the condominium property performed as required under…. See Florida Statutes 718.103
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Unit: means a part of the condominium property which is subject to exclusive ownership. See Florida Statutes 718.103
• Voting interests: means the voting rights distributed to the association members pursuant to…. See Florida Statutes 718.103
• 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