(Alimony Pendente Lite)
The annual payment of an allowance or income. Commercial annuities are usually issued by an insurance company or investment company in exchange for an initial monetary deposit. They can also be issued by a charity, in exchange for a donation. The purchase of an annuity can be part of an estate plan or could be part of the monetary settlement from an injury or malpractice claim.
A determination of the value of something, such as a house. A professional qualified appraiser should make an unbiased estimate by examining the property and looking at the initial purchase price and comparing it with recent sales of similar or neighboring property. Home appraisals are used to determine worth of property for mortgages, home equity loans, estate settlements, bankruptcy and foreclosure proceedings, and insurance damages.
A trial held before a judge only. The judge will listen to the facts of the case and make a determination of guilt or innocence as well as setting appropriate penalties. For most states, in a criminal trial, a bench trial may happen if the defendant has waived his or her rights to a jury trial. In a civil trial, both parties in the dispute must agree to waive their rights to a jury.
A short-term loan for financing the cost of construction.
Any loan for which funds or property (typically a home) is being used to secure the loan. The mortgage loan to purchase the home is considered the first mortgage and is typically secured with a financial down payment or proceeds from the sale of a former home. Second mortgage loans, like home equity loans, are secured by pledging the home as collateral for the loan.
Power of Attorney
A document which gives someone the power to act on a personís behalf with respect to certain situiations and transactions. Power of Attorney may be granted for medical, financial, or transactional purposes.
Protection From Abuse Order
A court order which protects the petitioning party or their minor children if they are in danger of physical abuse and need immediate protection. Orders can be obtained against a family or household member, which includes a spouse or former spouse, person who lives or lived with the petitioner as a spouse; brother or sister; parent or child; family member related by blood or marriage; current or former sexual or intimate partner; and someone with whom the petitioner has a child in common. The order typically instructs the defendant not to abuse, harass, or stalk the plaintiff, their relatives or minor children. It will also order the defendant to be removed from the home where both parties live and grant the plaintiff possession of the home. The order may also address temporary custody arrangements for minor children as well.
Sub Prime Loans
Sub prime loans are typically offered to persons with poor credit histories or those with a lack of credit history, and they carry a higher rate of interest than prime loans to compensate the lender for increased credit risk. Sub prime loans for mortgages or refinancing fall more often into foreclosure for reasons that may include higher interest rates, ignorance of a personís ability to repay the loan, ballooning interest payments, and hidden fees.