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8 Cards in this Set
- Front
- Back
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Money Judgement |
An award for money issued by a court resulting from a lawsuit for payment of a claim |
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Charging Order |
An attachment device used by a creditor to place a lien on the ownership interests in a limited liability company (LLC) held by the individual member for the payment of a money judgment, and either appoint a receiver to hold the debtor members share or foreclose on the member's share or foreclose on the member's interest in the LLC |
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Buyout Provision |
A provision in a limited liability company (LLC) operating agreement which, on termination of a member's interests, grants the remaining members the right to buy out the terminated member's interest in the LLC or dissolve the LLC |
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Fraudulent Conveyance |
A property transfer made for the purpose of avoiding creditors without reviving fair value on the transfer which is voidable |
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Automatic Homestead |
The dollar amount of equity in a homeowner's principal dwelling the homeowner is automatically qualified to exempt from creditor seizure. Also known as a statutory homestead exemption. |
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Quit Title (Action) |
A court action to remove a cloud and establish title to a property |
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Slander of Title |
False and malicious statements disparaging an owner's title to property resulting in money losses to the owner |
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Conditionally Privelaged Publication |
Documents relating to a lawsuit or dispute over a right or interest in real estate made in good faith and without malice, barring slander of title action |
