Terms Used In Rhode Island General Laws > Chapter 2-3 - Cooperative Extension District Associations and the Rhode Island Agricultural Council

• 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.
• Agent: means any individual or entity acting on behalf of a seller or buyer to effect the transfer of real estate. See Rhode Island General Laws 5-20.8-1
• Agreement to transfer: means a purchase and sale agreement, installment-sales contract, option to purchase agreement, or other agreement intended to effect the transfer of real estate from a seller to a buyer. See Rhode Island General Laws 5-20.8-1
• Allegation: something that someone says happened.
• analysis: is a study of real estate or real property other than estimating value. See Rhode Island General Laws 5-20.7-2
• analysis: is a study of real estate or real property other than estimating value. See Rhode Island General Laws 5-20.9-2
• Animal: means any animal other than humans and includes, by way of illustration, not limitation, fowl, birds, fish, livestock, and reptiles, wild or domestic, living or dead. See Rhode Island General Laws 5-25-2
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• Appraisal: means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real estate. See Rhode Island General Laws 5-20.9-2
• Appraisal Foundation: means the Appraisal Foundation incorporated as an Illinois not-for-profit corporation on November 30, 1987. See Rhode Island General Laws 5-20.7-2
• Appraisal management company: means :

  (i)  In connection with valuing properties collateralizing mortgage loans or mortgages incorporated into a securitization, any external third party authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling, or by an underwriter of or other principal in the secondary mortgage markets, that oversees a network or panel of more than fifteen (15) certified or licensed appraisers in Rhode Island or twenty-five (25) or more nationally, excluding those appraisers who do not provide appraisal services for covered transactions, within a given year to:

  (A)  Recruit, select, and retain appraisers;

  (B)  Contract with licensed and certified appraisers to perform appraisal assignments;

  (C)  Manage the process of having an appraisal performed, including providing administrative duties such as receiving appraisal orders and appraisal reports, submitting completed appraisal reports to creditors and underwriters, collecting fees from creditors and underwriters for services provided, and reimbursing appraisers for services performed; or

  (D)  Review and verify the work of appraisers. See Rhode Island General Laws 5-20.9-2

• Appraisal report: means any communication, written or oral, of an appraisal. See Rhode Island General Laws 5-20.7-2
• Appraisal review: means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment related to the appraiser's data collection, analysis, opinions, conclusions, opinion of value, or compliance with the Uniform Standards of Professional Appraisal Practice; provided however, that "appraisal review" shall not include:

  (i)  A general examination for grammatical, typographical, or similar errors; or

  (ii)  A general examination for completeness, including regulatory or client requirements as specified in an agreement that does not communicate an opinion of value. See Rhode Island General Laws 5-20.9-2

• Appraiser panel: means a group of independent fee appraisers that have been selected by an appraisal management company to perform residential real estate appraisal services for the appraisal management company. See Rhode Island General Laws 5-20.9-2
• 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.
• automobile junkyard: means a place where one or more unserviceable, discarded, worn-out, or junked automobiles, or bodies, engines, tires, parts, or accessories of junked automobiles are gathered together. See Rhode Island General Laws 5-21-3
• 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.
• Board: means the real-estate appraisal board established pursuant to the provisions of this chapter. See Rhode Island General Laws 5-20.7-2
• Buyer: means any individual or entity seeking to obtain title to real estate from a seller for consideration. See Rhode Island General Laws 5-20.8-1
• Buyer: means a person who buys or contracts to buy goods. See Rhode Island General Laws 6A-2-103
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Client: means any person or entity who or that contracts with, or otherwise enters into an agreement with, an appraisal management company for the management of residential real estate appraisal services. See Rhode Island General Laws 5-20.9-2
• Closing: means the time at which real estate is transferred from seller to buyer and consideration is delivered to the seller or to a settlement agent with the intention of imminent delivery upon the recording of pertinent documents and other ministerial acts associated with settlement. See Rhode Island General Laws 5-20.8-1
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Rhode Island General Laws 6A-2-106
• Controlling person: means :

  (i)  An owner, officer, or director of a corporation, partnership, or other business entity seeking to offer appraisal management services in this state; or

  (ii)  An individual employed, appointed, or authorized by an appraisal management company who has the authority to enter into a contractual relationship with clients for the performance of appraisal management services and has the authority to enter into agreements with independent appraisers for the performance of residential real estate appraisal services; or

  (iii)  An individual who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of an appraisal management company. See Rhode Island General Laws 5-20.9-2

• Conviction: A judgement of guilt against a criminal defendant.
• Cooperative extension: means a partnership made up of residents, the Land Grant College (the University of Rhode Island), the state of Rhode Island, the U. See Rhode Island General Laws 2-3-1
• 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.
• Deficient conditions: means any land restrictions, defect, malfunction, breakage, or unsound condition existing on, in, across, or under the real estate of which the seller has knowledge. See Rhode Island General Laws 5-20.8-1
• Department: means the department of business regulation. See Rhode Island General Laws 5-20.7-2
• Department: means the department of business regulation. See Rhode Island General Laws 5-20.9-2
• Department: means the Rhode Island department of health. See Rhode Island General Laws 5-25-2
• Dependent: A person dependent for support upon another.
• Director: means the director of the department of business regulation. See Rhode Island General Laws 5-20.7-2
• Director: means the director of the department of business regulation. See Rhode Island General Laws 5-20.9-2
• Director: means the director of the Rhode Island department of health. See Rhode Island General Laws 5-25-2
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• District association: means a county or district organization established to undertake the purposes of cooperative extension and to cooperate with the Land Grant College (the University of Rhode Island), the U. See Rhode Island General Laws 2-3-1
• Division: means the division of professional regulation within the department of health established in chapter 26 of this title. See Rhode Island General Laws 5-25-2
• Donee: The recipient of a gift.
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• 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.
• Extension agents: means a person or persons qualified by training and experience to instruct in the science and art of agriculture, home economics, natural and community resources, and 4-H youth development who devote their time to demonstrations and other forms of educational instruction. See Rhode Island General Laws 2-3-1
• 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.
• 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.
• 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.
• 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.
• Holiday: whenever used in this chapter includes: New Year's Day, Memorial Day, Fourth of July, Victory Day, Labor Day, Columbus Day, Veteran's Day, Thanksgiving Day (but only in those years that the governor by public proclamation designates it as a legal holiday), and Christmas, or on any day that any enumerated holiday is officially celebrated. See Rhode Island General Laws 5-23-1
• in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
• 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}
• Independent fee appraiser: means :

  (i)  A natural person who is a state-licensed or state-certified appraiser and receives a fee for performing an appraisal, but who is not an employee of the person engaging the appraiser; or

  (ii)  An organization that, in the ordinary course of business, employs state-licensed or state-certified appraisers to perform appraisals, receives a fee for performing the appraisals, and is not subject to § 1124 of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989 ("FIRREA"), Rhode Island General Laws 5-20.9-2

• 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.
• 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.
• Lead exposure hazard: means a condition that presents a clear and significant health risk to occupants of the dwelling, dwelling unit, or premises, particularly where there are children under the age of six (6) years. See Rhode Island General Laws 5-20.8-1
• Legatee: A beneficiary of a decedent
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• 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.
• 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.
• 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.
• 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 be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• Personal property: All property that is not real property.
• 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.
• Probate: Proving a will
• Quorum: The number of legislators that must be present to do business.
• Real estate: means an identified parcel or tract of land, including improvements, if any. See Rhode Island General Laws 5-20.7-2
• Real estate: means vacant land or real property and improvements consisting of a house or building containing one to four (4) dwelling units. See Rhode Island General Laws 5-20.8-1
• real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10
• real estate appraisal: means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real estate. See Rhode Island General Laws 5-20.7-2
• Real estate appraisal services: means the practice of developing an appraisal by a licensed or certified appraiser in conformance with the USPAP. See Rhode Island General Laws 5-20.9-2
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property: means one or more defined interests, benefits, and rights inherent in the ownership of real estate. See Rhode Island General Laws 5-20.7-2
• 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}
• 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.
• Retail establishment: whenever used in this chapter , includes any business making sales at retail in this state, but this definition does not include victualing houses principally serving prepared food for consumption on and off the premises, including those houses licensed under chapter 24 of this title. See Rhode Island General Laws 5-23-1
• Seller: means any individual or entity seeking to transfer title to real estate to a buyer for consideration. See Rhode Island General Laws 5-20.8-1
• Seller: means a person who sells or contracts to sell goods. See Rhode Island General Laws 6A-2-103
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• State-certified real estate appraiser: means a person who develops and communicates real estate reports and who holds a current, valid certificate issued to them for either general or residential real estate under the provisions of this chapter. See Rhode Island General Laws 5-20.7-2
• State-licensed real estate appraiser: means a person who develops and communicates real estate appraisal reports and who holds a current, valid license issued to them for residential real estate under the provisions of this chapter. See Rhode Island General Laws 5-20.7-2
• Statute: A law passed by a legislature.
• Summons: Another word for subpoena used by the criminal justice system.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
• Town council: whenever used in this chapter , includes "city council" except in the city of Providence where it means "bureau of licenses" and any duly constituted licensing authority existing in any other city or town. See Rhode Island General Laws 5-23-1
• town council: include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
• Transfer: means the sale or conveyance, exchange of, or option to purchase any real estate. See Rhode Island General Laws 5-20.8-1
• 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.
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8
• valuation: is a n estimate of the value of real estate or real property. See Rhode Island General Laws 5-20.7-2
• valuation: is a n estimate of the value of real estate or real property. See Rhode Island General Laws 5-20.9-2
• Veterinarian: means a person who practices veterinary medicine. See Rhode Island General Laws 5-25-2
• Veterinary dentistry: means that part of veterinary science that deals with the prevention and treatment of diseases, developmental conditions, and injuries of the teeth, gums, and oral cavity in animals. See Rhode Island General Laws 5-25-2
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.