Going concern is an accounting term for a business that is assumed to meet its financial obligations when they become due and continue its operations without the threat of liquidation [2]. This assumption is fundamental to the preparation of financial …
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How Does a Lien Affect My Property?
A lien is a legal claim against a property that is recorded with the local county, giving the lienholder a legal interest in a property. Liens are generally granted by a property owner or by a court. Once granted or …
Leia maisIs SLS a mortgage company?
Is SLS a Mortgage Company? Specialized Loan Servicing (SLS) is a mortgage loan servicing company. They handle the day-to-day management of mortgage loans on behalf of the loan owner or investor. SLS is responsible for collecting mortgage payments, managing escrow …
Leia maisUnderstanding Small Estates in North Carolina
In North Carolina, a small estate is defined as an estate with a total value of less than $20,000 (N.C. Gen. Stat. §§ 28A-25-1). However, if the only beneficiary is a surviving spouse, the threshold increases to $30,000. Key Facts …
Leia maisWhat is the purpose of the California appellate court?
The Role of Appellate Courts in California The California appellate court system plays a crucial role in the state’s judicial process by reviewing the decisions of trial courts and ensuring that legal errors are not made (https://selfhelp.courts.ca.gov/civil-appeals/appellate-courts). Unlike trial courts, …
Leia maisIs a mortgage a security agreement?
Definition of a Security Agreement A security agreement is a legal document that grants a lender a security interest in a specific asset or property pledged as collateral. The agreement outlines the terms and conditions of the loan, including the …
Leia maisWhy is it called a mechanics lien?
What is a Mechanic’s Lien? A mechanic’s lien is a legal claim that grants a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property [1, 2, 3]. …
Leia maisHow to Find the Raw Score in Statistics
In statistics, a raw score represents the original value of a data point before any transformations or standardizations have been applied. To find the raw score from a Z-score, the following steps can be followed: Key Facts Determine the mean …
Leia maisLifting the Corporate Veil
Limited liability is a fundamental principle of corporate law, protecting shareholders and directors from personal liability for the debts and actions of the corporation. However, in certain circumstances, courts may “lift the corporate veil” and hold these individuals personally responsible. …
Leia maisHow do I file Chapter 7 in Texas?
Steps to Take When Filing for Bankruptcy Gather Financial Information. … Schedule a Consultation with a Texas Bankruptcy Attorney. … Determine If Bankruptcy Is Right for You. … Choose the Right Type of Bankruptcy. … Get Credit Counseling. … Prepare …
Leia maisSubstitution Reconveyance Document: Purpose, Execution, and Significance
A substitution reconveyance document is a legal instrument that plays a vital role in the conveyance of real property. It serves multiple purposes, including transferring the authority to reconvey a property, releasing security interests, and facilitating the transfer of title …
Leia maisEstate Theft: A Comprehensive Overview
Types of Estate Theft Estate theft encompasses various forms of illicit activities that target assets intended for distribution to beneficiaries. Two primary types of estate theft include: Key Facts Types of Estate Theft: Theft from an estate before inventory: This …
Leia maisThe Foreign Corrupt Practices Act: An Overview
The Foreign Corrupt Practices Act (FCPA) is a United States law enacted in 1977 to combat bribery and corruption in international business transactions. The FCPA has been amended several times since its inception, and it currently applies to both U.S. …
Leia maisWhat is a mortgage service company?
What is a Mortgage Service Company? Mortgage service companies are entities that oversee the administrative tasks related to a mortgage after it has been closed. These tasks can include processing monthly mortgage payments, responding to borrowers’ inquiries, sending out mortgage …
Leia maisWhat does RDO stand for?
What does RDO stand for? RDO is an acronym that can have several meanings depending on the context in which it is used. Red Dead Online One common meaning of RDO is Red Dead Online. Red Dead Online is the …
Leia maisMortgage Debt Write-Off: A Comprehensive Guide
Mortgage debt can be a significant financial burden, especially in the event of a foreclosure or financial hardship. In certain circumstances, it is possible to have mortgage debt written off, providing relief from the obligation to repay the debt. This …
Leia maisIn Personam Actions: A Comprehensive Overview
In personam is a Latin term that translates to “against a person.” It refers to a legal action initiated against a specific individual. In contrast to in rem actions, which involve property or “all the world,” in personam actions focus …
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