Terms Used In Washington Code > Chapter 80.12 - Transfers of property

• Commission: means the utilities and transportation commission. See Washington Code 80.04.010
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corporation: includes a corporation, company, association or joint stock association. See Washington Code 80.04.010
• Facilities: means lines, conduits, ducts, poles, wires, cables, cross-arms, receivers, transmitters, instruments, machines, appliances, instrumentalities and all devices, real estate, easements, apparatus, property and routes used, operated, owned or controlled by any telecommunications company to facilitate the provision of telecommunications service. See Washington Code 80.04.010
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Local exchange company: means a telecommunications company providing local exchange telecommunications service. See Washington Code 80.04.010
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes an individual, a firm or partnership. See Washington Code 80.04.010
• Public service company: includes every gas company, electrical company, telecommunications company, wastewater company, and water company. See Washington Code 80.04.010