Terms Used In New Hampshire Revised Statutes > Chapter 554 - Inventory, Accounts, and Dealing With Assets

• Active duty: means full-time duty as an enlisted member, or as a commissioned or warrant officer, in any branch of the armed forces. See New Hampshire Revised Statutes 21:50
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• 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
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authority: shall mean the New Hampshire housing finance authority. See New Hampshire Revised Statutes 204-C:1
• Authority: means the New Hampshire housing finance authority established under RSA 204-C. See New Hampshire Revised Statutes 204-D:1
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• biennially: when applied to meetings and elections in towns, shall mean the biennial meetings and elections required by law to be holden in the month of November biennially, dating from the commencement of biennial elections in 1878; and the word "annual" when applied to meetings and elections in towns, shall mean the annual meetings and elections required by law to be holden in the month of March. See New Hampshire Revised Statutes 21:7
• Board: shall mean the housing finance board. See New Hampshire Revised Statutes 204-C:1
• Bonds: shall mean bonds of the authority issued under this chapter, including refunding bonds. See New Hampshire Revised Statutes 204-C:1
• Clerk: shall mean the clerk of the municipality or the officer charged with the duties customarily imposed on such clerk. See New Hampshire Revised Statutes 204-C:1
• Committee: means the long range capital planning and utilization committee established under RSA 17-M. See New Hampshire Revised Statutes 204-D:1
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dependent: A person dependent for support upon another.
• Development costs: shall mean the total of all costs incurred in connection with housing, which are approved by the authority as reasonable and necessary, which costs shall include, but not be limited to the following: the value of land and any buildings or improvements on the land, including payments for options, deposits or contracts to purchase properties on the proposed housing site or payments for the purchase of such properties; cost of site preparation, demolition, landscaping, development and off-site improvements; fees for architectural, engineering, legal, accounting and other services paid or payable in connection with the planning, execution and financing of such housing; cost of necessary studies, surveys, plans and permits; cost of insurance, interest, financing, tax assessments and other operating and carrying costs during construction; cost of construction, rehabilitation, reconstruction, fixtures, furnishings, equipment, machinery and apparatus related to such housing; organizational expenses, relocation expenses, reasonable expenses in connection with initial occupancy of such housing, a reasonable builder's and developer's profit and risk fee in addition to job overhead; an allowance established by the authority for working capital, contingency reserves and reserves for any anticipated operating deficits during the early years of occupancy; and the cost of such other items as the authority shall determine to be reasonable and necessary for the development of such housing. See New Hampshire Revised Statutes 204-C:1
• Devise: To gift property by will.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Donor: The person who makes a gift.
• Economic cost: shall mean cost of operating housing, including debt service, finance charges, management fee, heat, utility, maintenance, replacement reserve, on-site management and janitorial costs and other operating expenses approved by the authority, and, with respect to any rental housing, the maximum annual equity distribution on a cumulative basis permitted by the authority with respect to such housing. See New Hampshire Revised Statutes 204-C:1
• Elderly: shall mean a person who qualifies to live in housing for older persons, as defined in N. See New Hampshire Revised Statutes 204-C:1
• Eligible mortgagor: shall mean any individual, joint venture, partnership, limited partnership, trust, firm, association, corporation, cooperative, condominium association, governmental agency, or other legal entity, or any combination thereof approved by the authority as qualified to own, construct, acquire, rehabilitate, operate, manage or maintain housing whether organized for profit, limited profit or nonprofit purposes, in each case subject to the rules of the authority and the provisions of this chapter. See New Hampshire Revised Statutes 204-C:1
• Eligible persons and families: shall mean a person or persons, and families of 2 or more persons, irrespective of race, creed, national origin, sex, or gender identity, determined by the authority to require assistance under this chapter on account of insufficient personal or family income taking into consideration, without limitation, such factors as follows: (a) the amount of the total income of such persons and families available for housing needs; (b) the size of the family; (c) the cost and condition of housing facilities available; (d) the ability of such persons and families to compete successfully in the normal private housing market and to pay the amounts at which private enterprise is providing decent, safe and sanitary housing; and (e) if appropriate, standards established for various federal programs determining eligibility based on income of such persons and families. See New Hampshire Revised Statutes 204-C:1
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• 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.
• farm: means any land, buildings, or structures on or in which agriculture and farming operations or activities are carried out or conducted and shall include the residence or residences of owners, occupants, or employees located on such land. See New Hampshire Revised Statutes 21:34-a
• Federal government: shall mean the United States of America, or any agency or instrumentality, corporate or otherwise, of the United States of America. See New Hampshire Revised Statutes 204-C:1
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
• 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.
• Governing body: shall mean in a city that governing body which is designed as such by the charter of the particular city; in a town, the board of selectmen. See New Hampshire Revised Statutes 204-C:1
• governing body: shall mean the board of selectmen in a town, the board of aldermen or council in a city or town with a town council, the school board in a school district or the village district commissioners in a village district, or when used to refer to unincorporated towns or unorganized places, or both, the county commissioners. See New Hampshire Revised Statutes 21:48
• Governmental agency: shall mean the United States, the state, any municipality within the state, or any agency, authority, board, commission, department, division, public corporation, public agency or authority, political subdivision or other public instrumentality thereof. See New Hampshire Revised Statutes 204-C:1
• governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
• Grantor: The person who establishes a trust and places property into it.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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.
• Housing: shall mean one or more new or existing dwelling units in the state financed pursuant to this chapter, including homes for persons with disabilities, mobile homes, prefabricated homes, any buildings, land, improvements, equipment, facilities or other real or personal properties which are deemed by the authority to be necessary, convenient, ancillary or desirable in connection with such dwelling units, and including, but not limited to, streets, sewers, utilities, parks, site preparation, off-site facilities, landscaping and other nonhousing facilities such as administrative, community, transportation, health, recreational, educational, commercial, retail, welfare and public facilities. See New Hampshire Revised Statutes 204-C:1
• Housing project: shall mean any work or undertaking:
  (a) To demolish, clear or remove buildings from any slum area; such work or undertaking may embrace the adoption of such area to public purposes, including parks or other recreational or community purposes; or
  (b) To provide decent, safe and sanitary urban or rural multi-family housing for persons of low income; such work or undertaking may include buildings, land, equipment, facilities and other real or personal property for necessary, convenient or desirable appurtenances, streets, sewers, water service, parks, site preparation, gardening, administrative, community, health, recreational, welfare or other purposes; or
  (c) To accomplish a combination of the foregoing. See New Hampshire Revised Statutes 204-C:1
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Intestate: Dying without leaving a will.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• justice: when applied to a magistrate, shall mean a justice of a municipal court, or a justice of the peace having jurisdiction over the subject-matter. See New Hampshire Revised Statutes 21:12
• 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}
• Legacy: A gift of property made by will.
• Legatee: A beneficiary of a decedent
• Lending institution: shall mean any bank or trust company; Federal National Mortgage Association approved mortgage banker; savings bank; credit union; national banking association; insurance company; financial institution or governmental agency which customarily provides service or otherwise aids in the financing of mortgages located in the state. See New Hampshire Revised Statutes 204-C:1
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Library trustees: shall mean the governing board of a public library. See New Hampshire Revised Statutes 202-A:2
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mayor: shall mean the mayor of the city or the officer of the city charged with the duties customarily imposed on the mayor or executive head of the city. See New Hampshire Revised Statutes 204-C:1
• month: shall mean a calendar month, and the word "year" a calendar year, unless otherwise expressed; and the word "year" shall be equivalent to the expression "year of our Lord. See New Hampshire Revised Statutes 21:8
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: shall mean a mortgage deed, deed of trust, or other instrument which shall constitute or create a security interest in tangible personal property constituting housing, or a lien on real property or on a leasehold under a lease having a remaining term, at any time such mortgage is acquired, which does not expire for at least that number of years beyond the maturity date of the obligation secured by such mortgage as is established by the authority as necessary to protect its interest as mortgagee. See New Hampshire Revised Statutes 204-C:1
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgage loan: shall mean an interest-bearing obligation secured by a mortgage. See New Hampshire Revised Statutes 204-C:1
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Multi-family housing: shall mean housing consisting of 5 or more units. See New Hampshire Revised Statutes 204-C:1
• Municipality: shall mean any city or town in this state. See New Hampshire Revised Statutes 204-C:1
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Oath: A promise to tell the truth.
• oath: shall include "affirmation" in all cases where by law an affirmation may be substituted for an oath; and, in like cases, the word "sworn" shall include the word "affirmed. See New Hampshire Revised Statutes 21:24
• 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.
• Obligations: shall mean collectively any bonds, notes, bond anticipation notes, debentures, interim certificates or other evidence of financial indebtedness issued by the authority pursuant to this chapter. See New Hampshire Revised Statutes 204-C:1
• Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
• 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: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
• Personal property: All property that is not real property.
• petition: when used in connection with the equity jurisdiction of the superior court, and referring to a document filed with the court, shall mean complaint, and "petitioner" shall mean plaintiff. See New Hampshire Revised Statutes 21:51
• petitioner: shall mean plaintiff. See New Hampshire Revised Statutes 21:51
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Public library: shall mean every library which receives regular financial support, at least annually, from public or private sources and which provides regular and currently useful library service to the public without charge. See New Hampshire Revised Statutes 202-A:2
• Quorum: The number of legislators that must be present to do business.
• real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property: shall mean all land, including appurtenances, improvements and fixtures on the land, and property of any nature appurtenant to the land, or used in connection with the land, and every estate, interest and rights, legal or equitable in the land, including terms of years and liens by way of attachment, judgment, mortgage or otherwise and the indebtedness secured by such liens. See New Hampshire Revised Statutes 204-C:1
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• registered mail: when used in connection with the requirement for notice by mail shall mean either registered mail or certified mail. See New Hampshire Revised Statutes 21:32-a
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• road: shall include all bridges thereon. See New Hampshire Revised Statutes 21:26
• seal: shall include an impression of the official seal made upon the paper alone, as well as an impression thereof made by means of wax, or a wafer, affixed thereto. See New Hampshire Revised Statutes 21:11
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Slum: shall mean any area where dwellings predominate which, by reason of dilapidation, overcrowding, lack of ventilation, light or sanitary facilities, or any combination of these factors, are detrimental to safety, health or morals. See New Hampshire Revised Statutes 204-C:1
• state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
• State owned property: means real property owned by the state of New Hampshire and under the jurisdiction of any department, agency, or institution of state government. See New Hampshire Revised Statutes 204-D:1
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• sworn: when applied to public officers required by the constitution to take oaths therein prescribed, shall refer to those oaths; when applied to other officers it shall mean sworn to the faithful discharge of the duties of their offices before a justice of the peace, or other person authorized to administer official oaths in such cases. See New Hampshire Revised Statutes 21:25
• Testator: A male person who leaves a will at death.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• United States: shall include said district and territories. See New Hampshire Revised Statutes 21:4
• Whips: Assistants to the floor leaders who are also elected by their party conferences. The Majority and Minority Whips (and their assistants) are responsible for mobilizing votes within their parties on major issues. In the absence of a party floor leader, the whip often serves as acting floor leader.
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.