Assets: Property, including real property (land or buildings) and personal property (for example, cash, stocks, or vehicles) that belong to a person, corporation, estate, or other entity; ...
ASSETS. The property in the hands of an heir, executor, administrator or trustee, which is legally or equitably chargeable with the obligations, which such heir, executor, administrator or other trustee, is, as such, required to discharge, ...
Assets: Items of value.
Attorney-in-Fact: An individual designated in a power of attorney document, to act as the agent of the person who has executed the document.
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ASSETS - cash, property and investments along with anything else that may be of value to an individual or business.
Liquid Assets at Legal Glossary What is it? Business property that can be quickly and easily converted into cash, such as stock, bank accounts and accounts receivable.
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When assets and securities are marshalled, the two-fund doctrine is frequently applied.
Liquid Assets
Property that can be rapidly exchanged for cash.
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Business Assets
The undertaking and assets of an economic entity - as distinct from a company, are known as business assets. It is not a distinct legal person and its components e.g. goodwill, plant, contracts etc.
Intangible assets - Nonphysical items such as stock certificates, bonds, bank accounts, and pension benefits that have value and must be taken into account in estate planning.
Total assets. Rs. 89,32,17
Resources Of The Indian Presidency Banks Before They Were Absorbed By The Imperial Bank Of India (Lakhs of rupees.) (Figures are in lakhs of rupees - one lakh =100,000 rupees) Capital, Etc.
2. The assets of a decedent or other person subject to be administered under the authority of a court.
business assets;
property exempted under a marriage contract or separation agreement; (and)
real and personal property acquired after separation unless the spouses resume cohabitation.' ...
Net quick assets
Definition
: the excess of quick assets over current liabilities
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Can freeze assets legally and beneficially owned by the defendant, including those located outside the jurisdiction and in support of foreign proceedings, ...
Intangible Assets: Items of personal property; examples; franchises, trademarks, patents, copyrights, goodwill.
Intangible Value: A value that cannot be imputed to any part of the physical property.
Intangible Assets:
Nonphysical items such as stocks, bonds, pension receipts, bank accounts whose value should be taken into account.
Intentional Tort: ...
Chattel:
Assets that are movable and not attached to land or real property.
Chattel Mortgage:
An interest that is given by one person in, say, a piece of property such as a piano to another person to secure a debt.
Fixed Assets - Any tangible property used in carrying on the operation of a business but will not be consumed or normally converted into cash (land, buildings, machinery, so forth).
Marshalling of assets respects two different funds, and two different sets of parties, where one set can resort to either fund, the other only to one. It is grounded on obvious equity.
This term is often used in bankruptcy proceedings where creditors are said to be "pari passu" which means that they are all equal and that distribution of the assets will occur without preference between them.
Ad colligendum bona When a person dies and there is no apparent executor or administrator, a person can be appointed by Court order and for the limited and sole purpose of collecting, inventorying and preserving the assets of the deceased until ...
A word used exclusively in estate matters and refers to situations where an estate is abandoned by an administrator only partially administered and someone must be appointed to complete the administration of the residue of the estate; those assets ...
Pari passu: (Latin: with equal step) Often used in bankruptcy proceedings where creditors are said to rank pari passu, which means the assets are distributed without preference between them.
Summary Administration A simplified proceeding to administer estates of decedents who die without costly or complex assets.
Those chosen representatives collect the assets and pay the debts of the estate and then distribute what remains to those who are entitled by provisions of the will or by law.
In essence courts do the fair thing by court orders such as correction of property lines, taking possession of assets, imposing a lien, dividing assets, or injunctive relief (ordering a person to do something) to prevent irreparable damage.
Upon the death of the first spouse, the surviving spouse does not own the assets in that spouse's trust outright, but has a limited power over the assets in accordance with the terms of the trust.
Financial or material exploitation is defined as the illegal or improper use of an elder's funds, property, or assets.
Working paper for discussion EVALUATION OF INTELLECTUAL PROPERTY AND INTANGIBLE ASSETS(pdf) (Prepared by A.N. Kozyrev, Central Economics and Mathematics Institute, Russian Academy of Sciences), ...
The payment of debts and distribution of assets from the estate of a deceased person to his or her beneficiaries.
SEPARATE PROPERTY: property or assets that belong to one spouse and usually won't be included in the property distribution or division.
SERVICE: providing a copy of the papers being filed to the other side.
Attachment: A lien on property or assets to hold it to pay or satisfy any final judgment.
Attorney of Record: Attorney whose name appears in the permanent records or files of a case.
PER STIRPES A method of distributing assets of an estate where the decedent failed to have a Will; each share will pass to a descendent to his/her descendent to his/her descendent until distribution is made.
Action taken by a creditor to seize assets of a debtor.
RESIDUARY ESTATE: Also known as residue of the estate. Portion of the estate left after bequests of specific items of property are made. Often the largest portion.
CHAPTER 7 BANKRUPTCY: A type of bankruptcy in which a person's assets are liquidated (collected and sold) and the proceeds are distributed to the creditors.
Pour-Over will - A will that leaves some or all estate assets to a trust established before the will-maker's death.
The process of paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain, all with the ultimate goal of liquidating or closing down a corporation or partnership.
Letters Testamentary - Legal document issued by a court that shows an executor's legal right to take control of assets in the deceased person's name.
Liable - Legally responsible.
Support trust - A trust that instructs the trustee to spend only as much income and principal (the assets held in the trust) as needed for the beneficiary's support.
The administrator is appointed by a court and is the person who would then have power to deal with the debts and assets of a person who died intestate. Female administrators are called "administratrix." An administrator is a personal representative.
Trust
An entity or method through which assets can be held for distribution to beneficiaries at a later date.
Term: Trust
Definition: An entity or method through which assets can be held for distribution to beneficiaries at a later date.
Restraining Order A temporary court order prohibiting a party from certain activities. Restraining orders often are issued to protect assets and to protect against domestic violence.
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(If the fund out of which a demonstrative legacy or an annuity is paid fails, resort may be made to the general assets.)
A residuary legacy embraces only that which remains after all other bequests of the will are discharged.
Definition: Automated Administrative Enforcement (or AAE) refers to the ability of individual states to locate delinquent obligors across state lines and, if necessary, to seize their financial assets.
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Open End Mortgage
A mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions, usually, as to the assets of the mortgage.
SETTLOR
The person, who creates a trust by a written trust declaration, called a "Trustor" in many (particularly western) states and sometimes referred to as the "Donor." The settlor usually transfers the original assets into the trust.
In equal right; upon like or equivalent footing. Pari materia. On a like subject. Pari passu. By equal step; at equal rate: without preference or priority, as of one creditor over another, in marshaling assets.
Resulting Trust An action taken with the intent of creating a trust, where property is given from one person to another to control and act as trustee. TrusteeA person who holds and manages assets in trust for someone else.
Generally, the probate process involves collecting a decedent's assets, liquidating liabilities, paying necessary taxes, and distributing property to heirs.
 See also: Law, Person, Court, State, Will
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