Terms Used In Rhode Island General Laws > Chapter 34-36.1 > Article IV - Protection of Condominium Purchasers

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Agent: means any individual or entity acting on behalf of a seller or buyer to effect the transfer of real estate. See Rhode Island General Laws 5-20.8-1
• analysis: is a study of real estate or real property other than estimating value. See Rhode Island General Laws 5-20.7-2
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Appraisal Foundation: means the Appraisal Foundation incorporated as an Illinois not-for-profit corporation on November 30, 1987. See Rhode Island General Laws 5-20.7-2
• Appraisal report: means any communication, written or oral, of an appraisal. See Rhode Island General Laws 5-20.7-2
• Board: means the real-estate appraisal board established pursuant to the provisions of this chapter. See Rhode Island General Laws 5-20.7-2
• Buyer: means any individual or entity seeking to obtain title to real estate from a seller for consideration. See Rhode Island General Laws 5-20.8-1
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• 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.
• Department: means the department of business regulation. See Rhode Island General Laws 5-20.7-2
• Director: means the director of the department of business regulation. See Rhode Island General Laws 5-20.7-2
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• 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}
• Fraud: Intentional deception resulting in injury to another.
• in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
• 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.
• 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.
• 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.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• 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.
• 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: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• Plaintiff: The person who files the complaint in a civil lawsuit.
• 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.
• Real estate: means an identified parcel or tract of land, including improvements, if any. See Rhode Island General Laws 5-20.7-2
• Real estate: means vacant land or real property and improvements consisting of a house or building containing one to four (4) dwelling units. See Rhode Island General Laws 5-20.8-1
• real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10
• real estate appraisal: means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real estate. See Rhode Island General Laws 5-20.7-2
• Real property: means one or more defined interests, benefits, and rights inherent in the ownership of real estate. See Rhode Island General Laws 5-20.7-2
• 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.
• Seller: means any individual or entity seeking to transfer title to real estate to a buyer for consideration. See Rhode Island General Laws 5-20.8-1
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• State-certified real estate appraiser: means a person who develops and communicates real estate appraisals and who holds a current, valid certificate issued to him or her for either general or residential real estate under the provisions of this chapter. See Rhode Island General Laws 5-20.7-2
• Statute: A law passed by a legislature.
• Summons: Another word for subpoena used by the criminal justice system.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transfer: means the sale or conveyance, exchange of, or option to purchase any real estate. See Rhode Island General Laws 5-20.8-1
• United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8
• valuation: is a n estimate of the value of real estate or real property. See Rhode Island General Laws 5-20.7-2