Category Archives: GLOSSARY

What is Family Mediation?

Mediation is a method of dispute resolution whereby the parties retain a third party trained mediator to assist them in reaching an agreement and resolving issues relating to parenting, separation, support and any other matter related to the breakdown of marriage.

Deposit

A sum of money given by the buyer in a real estate transaction at the time when an offer  to the Agreement of Purchase and Sale is accepted by the seller.

Clear Title

A title of the property that is clear of all liens, executions, encumbrances and  restrictions with regard to the ownership of the property.

Tenants-in-Common

When  two or more individuals are on title of a property wherein their ownership does not pass  to the others in the event of death. Each owner holds a percentage of interest in the real property. Their interest can be transferred to anyone.