According to section 510(c) of the Bankruptcy Code, equitable subordination is a common law doctrine that protects unaffiliated creditors (i.e., outsiders, bona fide third party) by giving them rights to corporate assets superior to those of...
bankruptcy
equity of redemption
Equity of redemption (also termed right of redemption or equitable right of redemption) is a defaulting mortgagor’s right to prevent foreclosure proceedings on the property and redeem the mortgaged property by discharging the debt secured by...
examination
Examination refers to an interrogation, inspection, a questioning, or a search. During court trials, examination refers to an interrogation of a witness to determine the testimony of their statement. There are 3 types of examination:
...exempt property
Exempt property is any property that creditors cannot seize and sell in order to satisfy debt during chapter 7 or chapter 13 bankruptcy. The type of property exempted differs from state to state but often includes clothes, home furnishings,...
exemption
Exemption is an immunity, exception, or freedom from the liability, duty, or other requirements, such as exemptions from taxation or execution for certain property, or exemptions from military conscription.
In particular,...
fair market value
The fair market value (FMV) is the value of property as determined by the marketplace (or objective purchasers) rather than as determined by a subjective individual. This is what an informed and unpressured buyer would pay to an...
forced sale
A forced sale is an involuntary transaction in which the sale is based upon legal and not economic factors, such as a decree, execution, or something different than mere inability to maintain the property. If the sale is made for purely...
foreclosure
Foreclosure is a catch-all term for the processes used by mortgage-holders (mortgagees) to take mortgaged property from borrowers (mortgagors) who default on their mortgages. Foreclosure, like mortgages generally, is governed by the law of...
foreclosure sale
A foreclosure sale is the final stage of a foreclosure legal process. After the lender (usually a bank) carries out the foreclosure legal process, the mortgaged property is sold at auction or transferred back to the lender. The purpose of a...
fraternal benefit society benefits
Fraternal benefit society benefits are those given to members of fraternal societies (also called mutual aid societies) providing mutual financial assistance. The benefits differ widely based on the organization with some providing financial...