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| Uncontested Divorce In Virginia |
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ACKNOWLEDGEMENT A formal declaration made before a duly authorized officer, usually a Notary Public, by a person who has signed a document. INJUNCTION A legal action which forbids a party defendant from doing some act; it requires a person to whom it is directed to refrain from doing a particular thing. GROSS INCOME MULTIPLIER A useful rule of thumb to estimate market value of income producing residential property. The multiplier is derived by using comparable sales divided by the actual or estimated monthly rentals and arriving at an acceptable average. EASEMENT IN GROSS The limited right of one person to use another's land (servient estate), which right is not created for the benefit of any land owned by the owner of the easement; that is, there is no dominant estate, as the easement attaches personally to the owner, not to the land. POSSESSION The act of either actually or constructively possessing or occupying property. OFFSITE COSTS Costs such as for sewers, streets, utilities, etc., which are incurred in the development of raw land, but are not connected with the actual construction of the buildings(onsite costs). COVENANT A written agreement or promise of two or more parties by which either pledges to perform or not to perform specified acts on a property, or which specifies certain uses or non-uses of the property. POWER OF SALE A clause written into a mortgage authorizing the mortgagee to sell the property in the event of default. |
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