A person who has an interest in or claim to property until the death of the person who has the interest in the property. … [Read more...] about LIFE INTEREST
L
LIGARE
To tie or bind. Bract, fol. 369&. To enter into a league or treaty. Spelman. … [Read more...] about LIGARE
LICITACION
In Spanish law. The offering for sale at public auction of an estate or property held by co heirs or joint proprietors, which cannot be divided up without detriment to the whole. … [Read more...] about LICITACION
LIEN
The legal right of a secured creditor to forcibly take secured property if the debt isn't paid, usually that financed the property itself. Liens are also commonly referred to as security interests and common examples include mortgages, home equity loans, auto loans and any other type of loan where property is pledged as a guarantee repayment. A mechanic's lien may be filed by a … [Read more...] about LIEN
LICITARE
Latin: In Roman law. To offer a price at a sale; to bid; to bid often; to make several bids, one above another. Calvin. … [Read more...] about LICITARE