Deadhand control refers to individuals controlling how their property will be used after their death through different mechanisms. Historically, deadhand control has been criticized and limited as wealthy individuals attempted to make their...
property law
death beneficiary
A death beneficiary is the person who is conferred a benefit upon the death of another, usually through a will or trust.
[Last updated in September of 2022 by the Wex Definitions Team]
debtor and creditor
Debtor-creditor law governs situations where one party, known as the debtor, is unable to pay a monetary debt to another, known as the creditor. Debtor-creditor law typically plays out through bankruptcy proceedings.
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decedent
Decedent is a term that is generally used in the law governing estates and trusts, in reference to a person who has died. Decedents have rights that continue after their death and the authority to take certain actions/make certain decisions...
deed
A deed is a legal document that grants ownership to a piece of real estate or other property asset. A deed transfers the title of an asset to a new owner, and it is usually recorded in the local county clerk’s office. Recording is a way to...
deed of trust
A deed of trust is a type of secured real-estate transaction that some states use instead of mortgages. See State Property Statutes.
A deed of trust involves three parties: a lender, a borrower, and a trustee. The lender...
default
A default is a failure to fulfill an obligation. Defaulting is most common in regards to debtor-creditor law and contract law. Typically, a default leads to judicial proceedings or triggers the application of a separate contract provision....
defeasance
Defeasance can be best described as an annulment or abrogation. This term is used more in property law where it can mean terminating an estate or status with a conditional limitation. In other words, defeasance means a condition in which...
defective title
A defective title is ownership of property or assets that cannot be legally transferred due to claims by someone else.
While the seller has an obligation to present marketable title to real property, the buyer is also...
definite trust beneficiaries
Definite beneficiaries are a requirement of a valid trust, along with settlor capacity and intent, trust property, a valid trust purpose, and duties that the trustee must perform. This means that the identities of the beneficiaries must be...