Dictionary

Definition:   descended in a direct family line; related by a direct series of parents and children Pronunciation:  \ˈli-nē-əl\ Used in a Sentence:   He claims he is a lineal descendant of a famous...

Definition:   a business entity consisting of one or more general partners and one or more limited partners Pronunciation:   \ˈli-mə-təd\ \ˈpärt-nər-ˌship\ Used in a Sentence:    A limited partners...

Definition:   a business entity that features protection from personal liability but with fewer legal restrictions compared with other business entities Pronunciation:  \ˈli-mə-təd\ \ˌlī-ə-ˈbi-lə-t...

Definition:   an alternative, hybrid business entity with the combined characteristics and benefits of both limited partnerships and S corporations. Pronunciation:    \ˈli-mə-təd\ \ˌlī-ə-ˈbi-lə-tē\...

Definition:   any estate in real or personal property that is limited in duration to the life of its owner or some other designated person Pronunciation: Used in a Sentence:   A life estate is term...

Definition:   legal concept that regards a mortgage as a just claim on specific property pledged as security for a mortgage debt Pronunciation:   \ˈlēn, ˈlē-ən\ \ˈthē-ə-rē, ˈthir-ē\ Used in a Sente...

Definition:   a legal claim that someone or something has on the property of another person until a debt has been paid back Pronunciation:   \ˈlēn, ˈlē-ən\ Used in a Sentence:    The property in qu...

Definition:   the granting of licenses especially to practice a profession Pronunciation:    \ˈlī-sən-shər, -ˌshu̇r\ Used in a Sentence:    Licensure is obtained when an applicant passes the state ...

Definition:   a person who has a valid real estate or appraisal license. Pronunciation:   \ˌlī-sən(t)-ˈsē\ Used in a Sentence:    Licensees owe a duty of good faith and honesty to customers.