R

The act of giving up a right. 2. It is a rule of law that any one may renounce a right which the law has established in his favor. To this maxim there are many limitations. A party may always renounce an acquired right; as, for example, to take lands by descent; but one cannot always give up a future right, before it has accrued, nor to the benefit conferred by law, although … [Read more...] about RENUNCIATION

In an IRC 1031 Like Kind Exchange of Property, the property that the investor receives in return for his or her property is called the replacement property. … [Read more...] about REPLACEMENT PROPERTY

Latin: The defendant being absent; in the absence of the defendant. … [Read more...] about REO ABSENTE

When an item is stolen, lost or destroyed, this is the cost of what it would take to buy that item from a retail vendor and with respect to the condition and age of the item. … [Read more...] about REPLACEMENT VALUE

(A) Business Law. A new business plan that restructures a business which may include a takeover or merger of corporations. (B) Bankruptcy Law. A corporation that is experiencing difficult financial conditions or which may have filed for Chapter 11 may be given time to restructure its business plan and try to kick start the business into a viable state in the hope of repaying … [Read more...] about REORGANIZATION