Anti-lapse statutes are laws enacted in every state that prevent bequests from lapsing when the intended beneficiary has relatives covered by the statute. Without the statutes, if someone were to bequeath something to an intended beneficiary...
PROPERTY
anticipation
Anticipation is the performance of an act or obligation before it is legally due. Some common uses of the term “anticipation” in a legal sense include:
In the context of patent law, anticipation refers to the prior invention or...antilapse statute
Anti-lapse statutes are laws enacted in every state that prevent bequests from lapsing when the intended beneficiary has relatives covered by the statute. Without the statutes, if someone were to bequeath something to an intended beneficiary...
APN
APN is the shorthand for assessor’s parcel number.
[Last updated in December of 2021 by the Wex Definitions Team]
applicable exclusion amount
The applicable exclusion amount (also known as unified credit) refers to the total gifts and estate transfers exempted from an individual’s gift and estate taxes. Every U.S. citizen has an applicable exclusion amount for all gifts made inter...
appointees
In the context of a power of appointment, the appointees are the people the donee actually selects from the objects of the power. They are selected by the power of possession holder to receive the appointive assets subject to that power of...
appointive assets
Appointive assets refer to the property, both real property and chattel, subject to a power of appointment. Once the power of appointment is exercised, ownership of the appointive assets will transfer to the appointees.
For...
appraisal
An appraisal is the process by which the value of an item or property is determined. This is necessary in a variety of contexts. One common instance is in the purchase, sale or refinancing of homes or other real estate. Appraisals are also...
appraise
To appraise is to determine the value of an object or piece of property. This is done by an expert called an appraiser, the result of this action called an appraisal. This is necessary in a variety of contexts, such as the purchase, sale or...
appraiser
An appraiser is an expert hired to examine an object or piece of property to determine its value. This determination is called an appraisal, and is commonly required for the purchase, sale, or refinancing of real estate or to gain insurance...