Legal Vocabulary
Define the term criminal case.
A type of court action where the government sues an individual citizen
Define the term violation.
Breaking the law
Mrs. Mack's house cost $350,000. She make a down payment of $60,000. In five years, she has repaid $80,000 of her mortgage to the bank. What is Mrs. Boehm's home equity?
$140,000
Define the term civil case.
A type of court action where one citizen sues another citizen
Define the term blighted.
When a building or area is destroyed beyond repair
Ms. Bailey's house cost $550,000. She make a down payment of $90,000. In five years, she has repaid $110,000 of her mortgage to the bank. What is Mrs. Boehm's home equity?
$200,000
Define the term will.
A legal document that describes how you would like your property given away upon your death
Define the term revenue.
The income of the government from taxes
After Victoria buys a new television, the store manager tells her she must wait three weeks to turn it on.
What property right is being described in this scenario?
Right to use property
Define the term home equity.
The difference between the value of the home & the amount still owned on the mortgage of the home
Define the term compensation.
Money given to someone for a service, land or injury
Alyssa just finished reading her new book and wants to give it to her best friend Antonio, however, Alyssa’s parents tell her she can only give it to her family.
Which property right is violated in this situation?
Right to transfer property
Define the term eminent domain
The right of the government to take away private property for public use or if the property is blighted
List the five property rights.
Acquire Property
Own Property
Use Property
Transfer/Dispose of Property
Exclude others from your Property
Jordan goes into a store and sees a pair of shoes that she wants to buy. The store owner tells her she cannot buy that pair of shoes.
Which property rights are violated in this situation?
Right to acquire/own property