Race To The Courthouse

	Race To The Courthouse "Race to the courthouse" is an informal name used to describe the rule in some jurisdictions that the first conveyance instrument, mortgage, lien A lien ( or ) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the ''lienee'' and the pers ... or judgment to be filed with the appropriate recorder's office, will have priority and prevail over documents filed subsequently, irrespective of the date of execution of the documents at issue. Informal legal terminology {{law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Colloquialism Colloquialism (), also called colloquial language, everyday language or general parlance, is the style (sociolinguistics), linguistic style used for casual (informal) communication. It is the most common functional style of speech, the idiom normally employed in conversation and other informal context (language use), contexts. Colloquialism is characterized by wide usage of Interjection, interjections and other expressive devices; it makes use of non-specialist terminology, and has a rapidly changing lexicon. It can also be distinguished by its usage of formulations with incomplete logical and syntax (linguistics), syntactic ordering. A specific instance of such language is termed a ''colloquialism''. The most common term used in dictionaries to label such an expression is ''colloquial''. Explanation Colloquialism or general parlance is distinct from public speaking, formal speech or formal writing.colloquial. (n.d.) Dictionary.com Unabridged (v 1.1). Retrieved September 10, 2008 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Jurisdictions Jurisdiction (from Latin 'law' + 'declaration') is the legal term for the legal authority granted to a legal entity to enact justice. In federations like the United States, areas of jurisdiction apply to local, state, and federal levels. Jurisdiction draws its substance from international law, conflict of laws, constitutional law, and the powers of the executive and legislative branches of government to allocate resources to best serve the needs of society. International dimension Generally, international laws and treaties provide agreements which nations agree to be bound to. Such agreements are not always established or maintained. The exercise of extraterritorial jurisdiction by three principles outlined in the UN charter. These are equality of states, territorial sovereignty and non-intervention. This raises the question of when can many states prescribe or enforce jurisdiction. The ''Lotus'' case establishes two key rules to the prescription and enforcement of jurisdi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Conveyancing In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title). The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. It is a legal requirement in all jurisdictions that contracts for the sale of land be in writing. An exchange of contracts involves two copies of a contract of sale being signed, one copy of which is retained by each party. When the parties are together, both would usually sign both copies, one copy of which being retained by each party, sometimes with a formal handing over of a copy from one party to the other. However, it is usually sufficient that only the copy retained by each part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Mortgage Law A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. ''Hypothec'' is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien. A mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. The word is a Law French term meaning "dead pledge," originally only referring to the Welsh mortgage (''see below''), but in the later Middle Ages was applied to all gages and reinterpreted by folk etymology to mean that the pledge ends (dies) either when the obligation is f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Lien A lien ( or ) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the ''lienee'' and the person who has the benefit of the lien is referred to as the ''lienor'' or ''lien holder''. The etymological root is Anglo-French ''lien'', ''loyen'' "bond", "restraint", from Latin ''ligamen'', from ''ligare'' "to bind". In the United States, the term lien generally refers to a wide range of encumbrances and would include other forms of mortgage or charge. In the US, a lien characteristically refers to '' nonpossessory'' security interests (see generally: ). In other common-law countries, the term lien refers to a very specific type of security interest, being a passive right to retain (but not sell) property until the debt or other obligation is discharged. In contrast to the usage of the term in the US, in other countries it refers to a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]