Glossary Archive

Decedent’s Community Property Interest In the context of estate planning and probate, a decedent’s community property interest refers to the portion of property that a deceased individual owned jointly with their spouse under the community property laws of a jurisdiction, such as Texas. Community property is a legal framework that treats most property acquired during...

A decedent’s estate refers to all the assets and liabilities left behind by an individual at the time of their death. This includes real estate, personal property, bank accounts, investments, business interests, and any outstanding debts or obligations. The decedent's estate is typically administered through a legal process known as probate, where the court oversees...

A Decedent’s Personal Representative is an individual or entity appointed to manage the estate of a deceased person, known as the decedent, during the probate process. This representative is responsible for ensuring that the decedent’s wishes, as expressed in their will or according to state laws, are carried out. The role of the Decedent’s Personal...

Alternative Dispute Resolution (ADR) Alternative Dispute Resolution (ADR) refers to a range of processes that provide parties with the opportunity to resolve disputes without resorting to traditional litigation. ADR encompasses various methods, including mediation, arbitration, and negotiation, which can be more cost-effective, faster, and less adversarial than going to court. Overview of ADR Processes Mediation:...

A Declaration of Trust is a legal document that establishes a trust and outlines the terms under which it operates. It is created by a settlor, who is the individual establishing the trust, and serves as a formal declaration of the settlor's intention to create a trust and to transfer specific assets into that trust....

Declaratory Arbitration Declaratory arbitration is a specialized form of alternative dispute resolution (ADR) where a neutral arbitrator is tasked with resolving disputes by issuing a declaratory judgment. This process involves an official statement or declaration by the arbitrator regarding the rights, duties, or obligations of the parties involved, based on the facts and evidence presented...

Declaratory Judgment A declaratory judgment is a court ruling that clarifies the rights, duties, or obligations of the parties involved in a legal dispute without ordering any specific action or awarding damages. This type of judgment is often sought to resolve uncertainties about legal relationships or interpretations of laws, contracts, or statutes before a breach...

Deed in Lieu of Foreclosure Agreement A Deed in Lieu of Foreclosure Agreement is a legal document in which a borrower voluntarily conveys the title of their property to the lender in order to settle a defaulted mortgage loan, thereby avoiding the foreclosure process. This arrangement is typically pursued when the borrower is unable to...

A Deed of Trust is a legal document that secures a loan by transferring the title of a property to a third party, known as the trustee, for the benefit of the lender. It is commonly used in real estate transactions as a means of financing, and can be thought of as an alternative to...

General Overview A Deed of Trust is a legal document that secures a loan by transferring the title of a property to a third party, known as the trustee, until the borrower repays the debt. It is commonly used in real estate transactions to facilitate the lending process. Detailed Explanation In a Deed of Trust...