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v. t. e. In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. [1] Rescission is the unwinding of a transaction.
Caveat emptor ( / ˈɛmptɔːr /; from caveat, "may he/she beware", a subjunctive form of cavēre, "to beware" + ēmptor, "buyer") is Latin for "Let the buyer beware". [1] It has become a proverb in English. Generally, caveat emptor is the contract law principle that controls the sale of real property after the date of closing, but may also ...
The warranty deed adds the additional guarantee that the grantor will defend the title against any third-party claim. The quitclaim deed is also sometimes used, although this document is most often used to disclaim any interest in a property rather than selling a property that one owns. A grant deed includes a detailed property description ...
A land patent is a form of letters patent assigning official ownership of a particular tract of land that has gone through various legally-prescribed processes like surveying and documentation, followed by the letter's signing, sealing, and publishing in public records, made by a sovereign entity. While land patents are still issued by ...
e. A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate. A general warranty deed protects the grantee ...
t. e. In contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless".
The aggregate of marital property (or marital estate) under a community property matrimonial regime. compensatio: balancing of accounts Set-off. Type: compensatio lucri cum damno - set-off of profit and loss compensatio morae: balance of delay Delay in payment or performance on the part of both the debtor and the creditor. confusio: melting ...
Deed in lieu of foreclosure. A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower ...