Ademption by extinction refers to when an intended gift of property through a will fails to transfer those property rights because the property as described in the will no longer belongs to the testator when the will takes effect.
...LIFE EVENTS
ademption by satisfaction
Ademption by satisfaction occurs when a party gives someone a gift initially intended to be included in their will while that party is still alive. In cases of direct familial relationships, ademption by satisfaction is presumed as...
adequate remedy
An adequate remedy is one that affords complete relief with reference to the particular matter in controversy, and which is appropriate given the circumstances of the case. An adequate remedy has also been described as a remedy that is...
adhesion contract
An adhesion contract, also known as a contract of adhesion, is a contract where the parties are of such disproportionate bargaining power that the party of weaker bargaining power could not have negotiated for variations in the terms of the...
adjustable rate mortgage (ARM)
Adjustable rate mortgage (ARM) is a type of mortgage where the interest rate changes over time. In contrast, fixed rate mortgages made for 15, 20, or 30 years have a set amount of interest on the loan that does not change. ARMs come in many...
adjuster
An adjuster is an agent who handles insurance related claims commonly commissioned by an insurance company. The adjuster participates in the investigation and settlement of the claim. This agent is helpful, as it is commonly understood that...
adjustment date
Adjustment date is the date on which a financial term of a contract or transaction is set to change. In real estate, it usually refers to the date on which the interest rate of an adjustable rate mortgage (ARM) changes. An ARM’s interest rate...
adjustment period
Adjustment period is the time within which the interest rate on an adjustable-rate mortgage (ARM) can reset. It is the scheduled amount of time between each adjustment date.
Adjustment periods are set at month-to-month, semi...
administer
Administer means to carry out a task or give something to someone. Administer appears in a variety of contexts in the legal field. For example:
A trustee administers the assets of an estate by dispersing, selling, or managing the...administration (of an estate)
Administration of an estate means the management of the assets and liabilities of someone who has died. When a person has not designated a personal representative by will to deal with their estate upon death, the court will appoint an administrator...