Rescind

Rescind - revoke, cancel, or repeal (a law, order, or agreement).
"the government eventually rescinded the directive"
Gratuitous- Bestowed or granted without consideration or exchange for something of value.

debt means the total amount of liabilities. In this case, debt not only includes short-term and longterm loans and bonds payable, debt also includes accrued wages and utilities, income taxes
payable, and other liabilities. In other words, sometimesdebt is intended to mean all obligations...all
amounts owed...all liabilities.
Lien-
a right to keep possession of property belonging to another person until a
debt owed by that person is discharged.
Lien is a record that can be put on your asset, meaning that any sale proceeds of the asset
will go to a lien holder/lien holder must approve any transfer of ownership. The asset
continues to belong to you though.
Loan is when someone gives you money and you promise to pay it back.
Mortgage is a specific case of a loan - loan is called "mortgage" when something is
mortgaged in return (usually this refers to real estate, but auto loans are essentially the
same). I.e.: the lender puts a lien on the property and has the right to sell it if you're in
default on your loan obligation (a "regular" lien doesn't give that right).
A legal mortgage is the most secure and comprehensive form of security interest. It
transfers legal title to the Mortgagee and prevents the mortgagor from dealing with the
mortgaged asset while it is subject to the mortgage. Lien created to secure the repayment of a
debt or the discharge of some other obligation by a mortgagor.
An equitable mortgage is a mortgage whereby the mortgagee does not acquire the legal
estate in the property which is the subject of the mortgage - the mortgagor acquires
an equitable interest in the property. All mortgages which are not
legalmortgages are equitable.
An equitable mortgage in which the lender is secured by taking possession of all the original
title documents of the property that serves as security for the mortgage. It gives the mortgagee
the right to foreclose on the property, sell it, or appoint a receiver in case of nonpayment.
A person appointed by the court to manage and take charge of the assets and liabilities of a decedent wh
o has died withoutmaking a valid will.
When such a person is a male, he is called an administrator, while a woman is called an administratrix. A
n administratorc.t.a. (cum testamento annexo, Latin for "with the will annexed") is appointed by the court
where the testator had made anincomplete will without naming any executors or had named incapable pe
rsons, or where the executors named refuse to act.A public administrator is a public official designated by
state law to perform the duties of administration for persons whohave died intestate.
An executor differs from an administrator in that he or she is named in the decedent's will to manage the
estate
Act of disposing; transferring to the care or possession of another. The parting with, alienation of, or givin
g up of property.The final settlement of a matter and, with reference to decisions announced by a court, a
judge's ruling is commonly referredto as disposition, regardless of level of resolution.
An encumbrance is a claim against a property by a party that is not the owner. An

encumbrance can impact the transferability of the property and restrict its free use until the
encumbrance is lifted. (liens mortage)
alienation
n. the transfer of title to real property, voluntarily and completely. It does not apply to interests other than ti
tle, such as amortgages.
Receivership
A court order whereby all the property subject to dispute in a legal action is placed under the dominion an
d control of anindependent person known as a receiver.
Receivership is an extraordinary remedy, the purpose of which is to preserve property during the time nee
ded to prosecute alawsuit, if a danger is present that such property will be dissipated or removed from the
jurisdiction of the court if a receiveris not appointed. Receivership takes place through a court order and is
utilized only in exceptional circumstances and withor without the consent of the owner of the property.
An onerous donation is one which is subject to burdens, charges or future services equal (or more)
in value than that of the thing donated
ONEROUS?
A contract, lease, share, or other right is said to be onerous when the obligations
attaching to it counter-balance or exceed the advantage to be derived from it, either
absolutely or with reference to the particular possessor. Sweet. As used in the civil
law and In the systems derived from it, (French, Scotch, Spanish, Mexican.) the term
also means based upon, supported by, or relating to a good and valuable - ONEROUS
- consideration, i. e., one which imposes a burden or charge in return for the benefit
conferred.
PECUNIARY
: relating to or in the form of money

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Rescind - revoke, cancel, or repeal (a law, order, or agreement).

"the government eventually rescinded the directive"

Gratuitous- Bestowed or granted without consideration or exchange for something of value.

a right to keep possession of property belonging to another person until a

debt owed by that person is discharged.

An encumbrance is a claim against a property by a party that is not the owner. An

: relating to or in the form of money

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