West Virginia Code > Chapter 17D > Article 1 – Words and Phrases Defined
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Terms Used In West Virginia Code > Chapter 17D > Article 1 - Words and Phrases Defined
- 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.
- 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
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- state: shall mean : Any state, territory, or possession of the United States, the District of Columbia, or any province of the Dominion of Canada. See West Virginia Code 17D-4-3