Master Glossary – All Legal Glossary Terms
Santillán Law P.C. has provided this Master Glossary for those people who may be interested in learning and understanding common legal terms used in various kinds of cases such as Bankruptcy, Estate & Wills, Criminal Law, DUI, Uncontested Divorce, Real Estate and Cannabis/CBD Regulations and Law. This glossary is not and should not be construed as legal advice it is provided for informational purposes only and does not constitute “Legal Advice” For proper legal advice please consult a qualified attorney.
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- UnderwritingThe process by which a lender decides whether a potential debtor is creditworthy and should receive a loan. Read More
- Unified creditA credit against the federal gift and estate tax otherwise payable by an individual or estate. Frequently referred to as the estate tax exemption amount, the exemption equivalent, or applicable exclusion amount. The current exemption amount is $5 million inflation adjusted ($5.25 million in 2013). Read More
- Uniform commercial codeSometimes refereed to as UCC it is a uniform law created by the National Conference of Commissioners on Uniform State Laws (NCCUSL) and adopted in essentially identical form by all fifty of the United States, governing goods and personal property transactions. Read More
- Uniform custodial trust actA law enacted by some states providing a simple way to create a trust for a minor or adult beneficiary without the need for a complex trust document. Such a trust typically is used for a trust of modest size, particularly for a disabled beneficiary. An adult beneficiary may terminate the trust(...) Read More
- Uniform transfers to minors actA law enacted by some states providing a convenient means to transfer property to a minor. An adult person known as a “custodian” is designated by the donor to receive and manage property for the benefit of a minor. The Pennsylvania Uniform Transfers to Minors Act (sometimes known as PAUTMA or(...) Read More
- United States TrusteeAn agent of the U.S. Department of Justice appointed to assist in bankruptcy cases. The U.S. Trustee administers many of the duties of the court including appointing committees, appointing trustees and examiners, scrutinizing bankruptcy documents, etc. The United States Trustee Program was(...) Read More
- Unsecured creditorOne of two general types of creditors of a company or an individual. The unsecured creditors have no liens on the property of the company or individual. Read More
- Unsecured debtA claim or debt is unsecured if there is no collateral that is security for the debt. Most consumer debts are unsecured. Read More
- USDA (United States Department of Agriculture)The United States Department of Agriculture (USDA) is the federal agency that proposes programs and implements policies and regulations related to American farming, forestry, ranching, food quality, and nutrition. They also propose and make rules regarding Industrial Hemp often just called Hemp Read More
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