Terms Used In Virginia Code > Title 6.2 > Subtitle III > Chapter 22 - Motor Vehicle Title Loans

• Action: means any recoupment, counterclaim, setoff, or other civil action and any other proceeding in which rights are determined, including actions for possession, rent, unlawful detainer, unlawful entry, and distress for rent. See Virginia Code 55.1-1200
• Affiliate: means a person related to a licensee by common ownership or control, or any employee or agent of a licensee. See Virginia Code 6.2-2200
• Allegation: something that someone says happened.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Authorized occupant: means a person entitled to occupy a dwelling unit with the consent of the landlord, but who has not signed the rental agreement and therefore does not have the financial obligations as a tenant under the rental agreement. See Virginia Code 55.1-1200
• 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.
• Bond: includes any form of financial instrument that provides security equivalent to that provided by a bond, such as an irrevocable letter of credit, if its use in lieu of a bond is authorized pursuant to regulations adopted by the Commission. See Virginia Code 6.2-2200
• Building or housing code: means any law, ordinance, or governmental regulation concerning fitness for habitation or the construction, maintenance, operation, occupancy, use, or appearance of any structure or that part of a structure that is used as a home, residence, or sleeping place by one person who maintains a household or by two or more persons who maintain a common household. See Virginia Code 55.1-1200
• Certification form: means a certification form or declaration completed by a certifying agency that is required by federal immigration law certifying that a person is a victim of qualifying criminal activity. See Virginia Code 9.1-1500
• Certifying agency: means a state or local law-enforcement agency, an attorney for the Commonwealth, the Attorney General, or any other agency or department employing law-enforcement officers as defined in § Virginia Code 9.1-1500
• Certifying official: means the head of the certifying agency, a law-enforcement officer as defined in § Virginia Code 9.1-1500
• Chief: means the Chief of the Division of Mines of the Department of Energy. See Virginia Code 45.2-100
• 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.
• Defense attorney: Represent defendants in criminal matters.
• Donor: The person who makes a gift.
• Dwelling unit: means a structure or part of a structure that is used as a home or residence by one or more persons who maintain a household, including a manufactured home, as defined in § Virginia Code 55.1-1200
• Essential service: includes heat, running water, hot water, electricity, and gas. See Virginia Code 55.1-1200
• Fair Debt Collection Practices Act: The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act. Its purpose is to ensure ethical practices in the collection of consumer debts and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information's accuracy. It is often used in conjunction with the Fair Credit Reporting Act. ^{Source: OCC}
• Forbearance: A means of handling a delinquent loan. A
• Fraud: Intentional deception resulting in injury to another.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guest or invitee: means a person, other than the tenant or an authorized occupant, who has the permission of the tenant to visit but not to occupy the premises. See Virginia Code 55.1-1200
• in writing: include any representation of words, letters, symbols, numbers, or figures, whether (i) printed or inscribed on a tangible medium or (ii) stored in an electronic or other medium and retrievable in a perceivable form and whether an electronic signature authorized by Virginia Code 1-257
• 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.
• inhabitants: means with reference to any county, city, town, political subdivision of the Commonwealth or any combination thereof, the natural persons in such county, city, town, political subdivision or combination as shown by the unadjusted United States decennial census last preceding the time at which any provision dependent upon population is being applied or the time as of which it is being construed. See Virginia Code 1-235
• Interest: means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, and renewal charges, and any ancillary product sold in connection with a loan, but does not include the monthly maintenance fees, deposit item return fees, late charges, or reasonable costs of repossession and sale authorized under § Virginia Code 6.2-2200
• 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}
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• Landlord: means the owner, lessor, or sublessor of the dwelling unit or the building of which such dwelling unit is a part. See Virginia Code 55.1-1200
• 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}
• lease agreement: means all rental agreements, written or oral, and valid rules and regulations adopted under § Virginia Code 55.1-1200
• Licensee: means a person to whom a license has been issued under this chapter. See Virginia Code 6.2-2200
• loan agreement: means a written document that sets out the terms and conditions under which a licensee agrees to make a motor vehicle title loan to a borrower, and the borrower agrees to give to the licensee a security interest in a motor vehicle owned by the borrower to secure repayment of the motor vehicle title loan and performance of the other obligations under the loan agreement. See Virginia Code 6.2-2200
• Loan amount: means the principal amount of a loan exclusive of fees or charges. See Virginia Code 6.2-2200
• Managing agent: means the person authorized by the landlord to act as the property manager on behalf of the landlord pursuant to the written property management agreement. See Virginia Code 55.1-1200
• Month: means a calendar month and "year" means a calendar year. See Virginia Code 1-223
• Motor vehicle: means an automobile, motorcycle, mobile home, truck, van, or other vehicle operated on public highways and streets. See Virginia Code 6.2-2200
• nonresidential tenancy: means the rental of any real estate for purposes other than residential use, including business, industrial, or agricultural purposes. See Virginia Code 55.1-1400
• Notice: means notice given in writing by either regular mail or hand delivery, with the sender retaining sufficient proof of having given such notice in the form of a certificate of service confirming such mailing prepared by the sender. See Virginia Code 55.1-1200
• Oath: A promise to tell the truth.
• Oath: includes affirmation. See Virginia Code 1-228
• 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.
• Organization: means a corporation, government, governmental subdivision or agency, business trust, estate, trust, partnership, or association; two or more persons having a joint or common interest; any combination thereof; and any other legal or commercial entity. See Virginia Code 55.1-1200
• Owner: means one or more persons or entities, jointly or severally, including a mortgagee in possession, in whom is vested:

  1. See Virginia Code 55.1-1200

• 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: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, or other legal or commercial entity. See Virginia Code 6.2-2200
• Person: means any individual, group of individuals, corporation, partnership, business trust, association, or other legal entity, or any combination thereof. See Virginia Code 55.1-1200
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Premises: means a dwelling unit and the structure of which it is a part, facilities and appurtenances contained therein, and grounds, areas, and facilities held out for the use of tenants generally or whose use is promised to the tenant. See Virginia Code 55.1-1200
• Principal: means any person who, directly or indirectly, owns or controls (i) 10 percent or more of the outstanding stock of a stock corporation or (ii) a 10 percent or greater interest in any other type of entity. See Virginia Code 6.2-2200
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Qualifying criminal activity: means any activity, regardless of the stage of detection, investigation, or prosecution, designated in Virginia Code 9.1-1500
• 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}
• Rent: means all money, other than a security deposit, owed or paid to the landlord under the rental agreement, including prepaid rent paid more than one month in advance of the rent due date. See Virginia Code 55.1-1200
• Rental application: means the written application or similar document used by a landlord to determine if a prospective tenant is qualified to become a tenant of a dwelling unit. See Virginia Code 55.1-1200
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Security deposit: means any refundable deposit of money that is furnished by a tenant to a landlord to secure the performance of the terms and conditions of a rental agreement, as a security for damages to the leased premises, or as a pet deposit. See Virginia Code 55.1-1200
• state agency: means the same as that term is defined in § Virginia Code 1-206
• Summons: Another word for subpoena used by the criminal justice system.
• Tenant: means a person entitled only under the terms of a rental agreement to occupy a dwelling unit to the exclusion of others and includes a roomer. See Virginia Code 55.1-1200
• Tenant records: means all information, including financial, maintenance, and other records about a tenant or prospective tenant, whether such information is in written or electronic form or any other medium. See Virginia Code 55.1-1200
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• title loan: means a loan secured by a non-purchase money security interest in a motor vehicle. See Virginia Code 6.2-2200
• 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}
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Venue: The geographical location in which a case is tried.
• Victim of qualifying criminal activity: means a person described in Virginia Code 9.1-1500
• Written notice: means notice given in accordance with § Virginia Code 55.1-1200