Obiter Dictum
Opinion of a judge having no direct legal or binding effect on the outcome of a pending judicial decision. An obiter dictum is considered to be an incidental judicial remark about some point that may or may not be directly relevant to the matter before the bench. For example, while ruling in favor of a mortgagor in a foreclosure action brought by the mortgagee, a judge states an obiter dictum to the mortgagor saying "in the future, pay your bills on time".
Popular Real Estate Terms
Computer software packages designed to serve mortgage banking functions, such as mortgage loan accounting/servicing, loan origination, loan processing, lease/financial/investment analysis, ...
Not attached to any parcel of land but merely a personal right to use the land of another. ...
Trade group of predominately land developers. ...
Combination of IRC 1034 and 121 dealing with the sale of a personal residence with the once-in-a-lifetime $125,000 exclusion that may be available for the "over-55" seller. Should the ...
A public officer given the right to authenticate a document, accept a person's oath, administer depositions, and to conduct other activities in commercial business. An official seal is used ...
A judicial ruling in which the rights and claims of the parties have been considered. A final ruling on some aspect formed after all the facts have been taken into account. In Real ...
Latin term meaning legal capacity to act on behalf of oneself. ...
State tax based on the value of property received through inheritance. The tax is paid by the recipient not the estate. Tax paid to the government or state upon the death of the taxpayer ...
Privilege granted by a franchiser to a franchisee permitting the latter to operate using the franchiser's name. The franchisee must pay a franchise fee for such right. In addition, the ...
Have a question or comment?
We're here to help.