Terms Used In California Codes > Public Resources Code > Division 20 > Chapter 2 - Definitions

• Adequate progress: means all of the following:

  California Government Code 65007

• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Bequest: Property gifted by will.
• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• County: includes "city and county. See California Public Resources Code 14
• Devise: To gift property by will.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Flood hazard zone: means an area subject to flooding that is delineated as either a special hazard area or an area of moderate hazard on an official flood insurance rate map issued by the Federal Emergency Management Agency. See California Government Code 65007
• 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}
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Inter vivos: Transfer of property from one living person to another living person.
• Intestate: Dying without leaving a will.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Notice: includes all papers and orders required to be served in any proceedings before any court, board, or officer, or when required by law to be served independently of such proceeding. See California Government Code 26660
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: includes a corporation as well as a natural person. See California Corporations Code 18
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Process: includes all writs, warrants, summons, and orders of courts of justice, or judicial officers. See California Government Code 26660
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Sacramento-San Joaquin Valley: means lands in the bed or along or near the banks of the Sacramento River or San Joaquin River, or their tributaries or connected therewith, or upon any land adjacent thereto, or within the overflow basins thereof, or upon land susceptible to overflow therefrom. See California Government Code 65007
• Service of process: The service of writs or summonses to the appropriate party.
• State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Undetermined risk area: means an urban or urbanizing area within a moderate flood hazard zone, as delineated on an official flood insurance rate map issued by the Federal Emergency Management Agency, which has not been determined to have an urban level of protection. See California Government Code 65007
• Urban level of flood protection: means the level of protection that is necessary to withstand flooding that has a 1-in-200 chance of occurring in any given year using criteria consistent with, or developed by, the Department of Water Resources. See California Government Code 65007