GARNISHMENT – A legal process designed to provide a means for creditors to safeguard for themselves the personal property of a debtor which is in the hands of a third party («garnishee»). GENERAL AGENT – One who is authorized to perform any and all acts...
HABENDUM CLAUSE That part of the deed beginning with the words «to have and to hold,» following the granting clause and reaffirming the extent of ownership that the grantor is transferring. HABITABLE Being fit to live in. The residential landlord has an obligation to...
IMPLIED WARRANTY OF HABITABILITY A legal doctrine imposing on the landlord a duty to make the leased premises acceptable to live in and ready for occupancy and to continue to maintain them in a state of repair throughout the entire term of the lease. IMPOUND ACCOUNT...
JOINT AND SEVERAL LIABILITY A situation in which more than one party is liable to repay a debt or obligation and a creditor can obtain compensation from one or more parties, either individually or jointly, whichever he chooses. JOINT TENANCY A form of property...
LAND The surface of the earth extending down to the center and upward to the sky, including all natural things thereon such as trees, crops, or water; plus the minerals below the surface and the air rights above. LAND CONTRACT Another name for an installment purchase...
MAINTENANCE The care and work put into a building to keep it in operation and productive use; the general repair and upkeep of a building. If maintenance is deferred, the building will suffer a loss in value. MALL A landscaped public area set aside for pedestrian...
