Abut means to directly border. Property law frequently concerns the rights of abutting landowners.
For example, under the common law, owners of property abutting public roads or sidewalks in Connecticut have no duty to keep...
property & real estate law
access
Access is the right to use, communicate, or approach something or someone. Some common usages of the term “access” in a legal sense include:
In the context of copyright, the term “access” refers to the ability of a potential...accretion
Accretion, in law, usually refers to the slow addition of land next to water due to the water’s movement or the increase of beneficiary’s share of a trust due to the actions of another beneficiary.
Accretion from natural...
act of God
An act of God refers to a severe, unanticipated natural event for which no human is responsible. Despite its facial religious connections, the usefulness of the term means “act of God” is frequently used in otherwise secular statutory and...
ad valorem
Ad valorem translated directly from Latin, means "according to [the] value [of something].” In practical use, the term is used in taxation to designate taxes levied against property, real or personal, at a certain rate based upon the property...
ad valorem tax
Ad valorem is a Latin phrase that translates to “according to the value.”
The essential characteristic of ad valorem tax is that it is proportional to the value of the underlying asset, unlike a specific tax, where the tax...
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...
adjusted basis
Adjusted basis is the cost basis of an asset adjusted for various events during its ownership. It is usually used to calculate an owner’s capital gain or loss for income tax purposes when the property is sold, or to calculate an inheritor’s...
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...