A burden is a generic term referring to a restriction on a use or activity. Often, the term arises in property law. For instance, real property may carry an intangible burden in the form of covenants or easements. These burdens generally...
property & real estate law
buyer
A natural person or entity that buys goods or other property to a seller.
See also: Goods
[Last updated in July of 2021 by the Wex Definitions Team]
cap
A cap is a set limit on some form of income, interest, fees, loan, or benefit. Examples of caps:
A loan can have varying interest rates based on the market, but the loan can have a maximum or cap rate of interest. Businesses can set a...capital gains
Capital gains refers to profits gained from the sale of capital assets. Almost everything someone owns and uses for personal or investment purposes is a capital asset. This includes a home, personal-use items like household furnishings,...
causa mortis
Causa mortis is a Latin term referring to the awareness that death is approaching. In property law, when a party, acting with awareness that their death is approaching, gives something to another party, the resulting gift is known as a gift...
caveat emptor
Caveat emptor is a common law doctrine that places the burden on buyers to reasonably examine property before making a purchase. A buyer who fails to meet this burden is unable to recover for defects in the product that would have been...
CC&Rs
CC&Rs refer to covenants, conditions, and restrictions that often come with buying houses, apartments, and other real estate in common interest communities. These communities such as condominiums and co-ops have requirements when created...
certificate of title
A certificate of title is an official document issued by the state, usually a registrar or other public officer, that notes the owner(s) of personal or real property. It serves the purpose of proving the right of ownership, and it typically...
chain of title
Chain of title is the historical record of ownership transfers of a specific piece of property. The chain of title is imperative to establishing legal ownership of real estate, vehicles, patents, and other tangible and intangible property....
chattel
Chattel is a catch-all category of property associated with movable goods. At common law, chattel included all property other than real property. Examples include leases, animals, and money. In modern usage, chattel usually only refers to...