Two Step Mortgage - Law Dictionary Search Results
Home Dictionary Name: two step mortgage Page 1 of about 4 results ( seconds)two step mortgage
two step mortgage an adjustable-rate mortgage (ARM) that has one interest rate for the first five to seven years of its term and a different interest rate for the remainder of the term. Source: U.S. Department of Housing and Urban Development ...
Deed
Deed [fr. d'd, Sax.; ded gaded, Goth.;daed, Dut.], a formal document on paper or parchment duly signed, sealed, and delivered. It is either an indenture (factum inter partes) needing an actual indentation [(English) Real Property Act, 1845 (8 & 9 Vict. c. 106), s. 5], reproduced by the Law of Property Act, 1925, s. 56 (2), made between two or more persons in different interests, or a deed-poll (charta de una parte) made by a single person or by two or more persons having similar interests. By the (English) Law of Property Act, 1925, s. 57, a deed may be described according to the nature of the transaction, e.g., 'this lease,' 'this mortgage,' etc., or as a 'deed' and not habitually by the word 'indenture.'The requisites of a deed are these:-(1) Sufficient parties and a proper subject of assurance.(2) It must be written, engrossed, printed, or lithographed, or partly written or engrossed, and partly printed or lithographed in any character or in any language, on paper, vellum, or parchm...
file
file filed fil·ing vt 1 a : to submit (a legal document) to the proper office (as the office of a clerk of court) for keeping on file among the records esp. as a procedural step in a legal transaction or proceeding [filed a tax return] [a financing statement filed with the Secretary of State] [filing a notice of appeal] ;also : record [filed a mortgage in the Registry of Deeds] NOTE: In nearly all cases, a document is deemed to be filed when it is actually received by the office to which it is directed. A few cases, however, have held that a document is filed upon the mailing of it. b : to place (as a document) on file among the records of an office esp. by formally receiving and endorsing [a complaint filed by the clerk despite the absence of the filing fee] 2 : to return (the documentation in a case) to the records of a clerk of court without any determination of the case ;broadly : to conclude (a case) without a determination on its merits 3 : to initiate (a judicial...
Precedent
Precedent, a decision is a precedent of its own features. Further, the enunciation of the reason or principle on which a question before a court has been decided is alone binding as a precedent, Uttaranchal Road Transport Corporation v. Mansaram Nainwal, (2000) 6 SCC 366.A precedent acquirers added authority from lapse of time, the longer a precedent has remained unquestioned, the more hard it becomes to reverse it. The courts has to adopt a construction of law, which would inevitably result in upsetting titles long founded on the contrary view, Pratap Bahadur Sahi v. Lakshmidhar Singh, AIR 1946 PC 189: 73 IA 231; Vijaya Charari v. Khubchand, AIR 1964 SC 1099.Precedent, are not an immutable dogma. Courts may evolve principles which are applicable to the facts involved in each case, Rumana Begum v. Government of Andhra Pradesh, 1992 Cr LJ 3512.Means every judgment must be based upon facts, declared by the Indian Evidence Act, 1872 to be relevant and duly proved. But when a Judge, in dec...
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