property law

subject to open

Also called subject to partial divestment, subject to open is when an estate is given to a certain class of individuals (e.g. a person's children), and one or more of whom must be already ascertained as part of the class and who has satisfied...

subject to partial divestment

See subject to open.

[Last updated in June of 2024 by the Wex Definitions Team]

sublease

A sublease is a lease by the lessee of an estate to a third person, conveying all or part of the estate for a shorter term than that for which the lessee holds originally. A sublease is a new contract between the lessee and the sublessee. The...

subprime mortgage

A subprime mortgage is a subprime loan used as a mortgage (to buy property, such as a house).

subtenant

See the definition for sublessee in sublease.

[Last updated in August of 2021 by the Wex Definitions Team]

succession

Succession, in legal terms, means succeeding to the rights of another. The word commonly refers to the distribution of property under a state's intestate succession laws, which determine who inherits the property when someone dies without a...

successor trustee

Successor Trustee is the person or institution who takes over the management of a living trust property when the original trustee has died or become incapacitated. The exact responsibilities of a successor trustee will vary depending on the...

supplemental needs trust

See: Special needs trust

[Last updated in June of 2024 by the Wex Definitions Team]

Supplemental Register

Supplemental Register is the secondary register of trademarks maintained by the United States Patent and Trademark Office (USPTO). The Supplemental Register provides limited trademark rights and benefits and consists of marks that do not...

support trust

A support trust is a type of trust that directs the trustee to pay the beneficiary as much of the income and principal as necessary for the beneficiary’s education and support. The beneficiary’s interest in the trust is protected from...