Nevada Revised Statutes > Chapter 100 – Special Relations of Debtor and Creditor; Suretyship
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Nevada Revised Statutes > Chapter 100 - Special Relations of Debtor and Creditor; Suretyship
- Appraisal: A determination of property value.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bailiff: a court officer who enforces the rules of behavior in courtrooms.
- Beneficiary: means the beneficiary of the deed of trust or the successor in interest of the beneficiary or any person designated or authorized to act on behalf of the beneficiary or its successor in interest. See Nevada Revised Statutes 107.015
- Chambers: A judge's office.
- Cooperative: has the meaning ascribed to it in Nevada Revised Statutes 107.015
- Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.
- Date of valuation: means the date on which the value of the property actually taken, and the damages, if any, to the remaining property, must be determined. See Nevada Revised Statutes 37.009
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
- Grantor: The person who establishes a trust and places property into it.
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Judgment: means the judgment determining the right to condemn property and fixing the amount of compensation to be paid by the plaintiff. See Nevada Revised Statutes 37.009
- Jurisprudence: The study of law and the structure of the legal system.
- Lineal descendant: Direct descendant of the same ancestors.
- Owner-occupied housing: means housing that is occupied by an owner as the owner"s primary residence. See Nevada Revised Statutes 107.015
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
- Proprietary lease: has the meaning ascribed to it in Nevada Revised Statutes 107.015
- prosecuting agency: means :
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
- Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
- Residential foreclosure: means the sale of a single-family residence under a power of sale granted by Nevada Revised Statutes 107.015
- Title insurer: has the meaning ascribed to it in Nevada Revised Statutes 107.015
- 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.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trustee: means the trustee of record. See Nevada Revised Statutes 107.015
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- Value: means the highest price, on the date of valuation, that would be agreed to by a seller, who is willing to sell on the open market and has reasonable time to find a purchaser, and a buyer, who is ready, willing and able to buy, if both the seller and the buyer had full knowledge of all the uses and purposes for which the property is reasonably adaptable and available. See Nevada Revised Statutes 37.009