Terms Used In New York Laws > General Business > Article 10-B - Transmission of Money to Foreign Countries.

• Allegation: something that someone says happened.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• 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}
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
• 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.
• Personal property: All property that is not real property.
• Trustee: A person or institution holding and administering property in trust.
• Venue: The geographical location in which a case is tried.