Terms Used In Rhode Island General Laws > Chapter 44-30 > Part VI - Procedure and Administration

• 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
• analysis: is a study of real estate or real property other than estimating value. See Rhode Island General Laws 5-20.7-2
• 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 report: means any communication, written or oral, of an appraisal. See Rhode Island General Laws 5-20.7-2
• 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
• 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.
• 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.
• 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
• 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
• 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.
• Fiduciary: A trustee, executor, or administrator.
• 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.
• 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
• 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
• 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
• 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 property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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.
• 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
• 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
• 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.
• Transfer: means the sale or conveyance, exchange of, or option to purchase any real estate. See Rhode Island General Laws 5-20.8-1
• Trustee: A person or institution holding and administering property in trust.
• 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
• 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.