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  1. VA

    An abbreviation for U.S. Department of Veterans Affairs. Formerly called the Veterans Administration, this federal government body provides benefits and services to military veterans and their families. Illustrative caselaw See, e.g. Shinseki v. Sanders, 129 S.Ct. 1696 (2009). See also Military Military law Martial law
    Mortgage loan available to veterans of US Armed Forces.
    (Civil Law) A surety or pledge.
    Lat. In the civil law. A pledge; a surety; ball or surety in a criminal proceeding or civil action. Calvin.
  2. VA Loan

    A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry). The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase [...]
    Mortgage loan available to veterans of US Armed Forces. Usually offers better rates and an easier acceptance than a standard loan.
  3. Vacancy

    A place which is empty. The term is principally applied to an interruption in the incumbency of an office. The term "vacancy" applies not only to an interregnum in an existing office, but it aptly and fitly describes the condition of an office when it is. first created, and has been filled by no incumbent. Walsh v. Comm., 89 Pa. 426, 33 Am. Rep. 771. And see Collins v. State, 8 Ind. 350; People v. Opel, 188 111. 194, 58 N. E. 996; Gormley v. Taylor, 44 Ga. 76.
    A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. Whether the president can create an office and fill it during the recess of the senate, seems to have been much questioned. Story, Const. §1553. See Serg. Const. Law, ch. 31; 1 Breese, R. 70.
  4. Vacancy Factor

    Gross loss of income from an untenanted property available for lease.
  5. Vacancy Rate

    Percept of all units that can be occupied but are not currently occupied.
  6. Vacant

    1) Empty, unclaimed, and/or unoccupied real property. 2) An abandoned estate, i.e. an estate that has no heirs or claimants. Illustrative caselaw See, e.g. Simmons v. Saul, 138 U.S. 439 (1891). See also Abandoned property
    A building that does not have any contents or inhabitants.
  7. Vacant Possession

    Vacant possession is a property law concept. Giving 'vacant possession' refers to a legal obligation to ensure that a property is in a state fit to be occupied at a given point in time. Vacant possession is most commonly known of on the sale and purchase of residential property and many find that, on the purchase of a new home, they do not obtain vacant possession as desired. The concept is also an essential element in the grant and termination of leases and other tenancy agreements. It is a [...]
    An estate which has been abandoned, vacated, or forsaken by the tenant. In the older books, "possession" ls sometimes used as the synonym of "seisin;" but, strictly speaking, they are entirely different terms. "The difference betwcen possession and seisin is : Lessee for years is possessed, and yet the lessor is stlil seised; and therefore the terms of law are that of chattels a man is possessed, whereas in fcoffments, gifts in tail, and leases for Ilfe he is described as 'seised.'" Noy, Max. [...]
    A legal obligation to ensure that a property is in a state fit to be occupied at a given point in time. Vacant possession is most commonly known of on the sale and purchase of residential property and many find that, on the purchase of a new home, they do not obtain vacant possession as desired.
    Estates. An estate which has been abandoned by the tenant; the abandonment must be complete in order to make the possession vacant, and therefore if the tenant have goods on the premises, it will not be so considered. 2 Chit. Rep. 17 7; 2 Str. 1064; Bull. N. P. 97; Comyn on Landl. & Ten. 507, 517.
  8. Vacant Succession

    An unclaimed inheritance, the heirs of which are unknown.
    An estate that has no heirs, because they either do not exist or have renounced the estate. A vacant estate may escheat back to the state. Illustrative caselaw See, e.g. Simmons v. Saul, 138 U.S. 439 (1891). See also Abandoned property Succession Real property
    A succession is called "vacant" when no one claims it, or when all the heirs are unknown, or when all the known heirs to it have renounced it. Civ. Code La. art. 1095. Simmons v. Sanl, 138 U. S. 439, 11 Sup. Ct. 369, 84 In Ed. 1054.
    An inheritance for which the heirs are unknown.
  9. Vacantia Bona

    Unclaimed goods.
    Lat. In the civil law. Goods without an owner or in which no one claims a property; escheated goods. Inst 2, 6, 4; 1 Bl. Comm. 298.
  10. Vacare

    To be empty or vacant.
  11. Vacate

    To annul; to set aside.
    1) In civil and criminal procedure: To set aside or annul a previous judgment or order. 2) In property law: To surrender or leave the premises. Illustrative caselaw See, e.g. Sears v. Upton, 130 S.Ct. 3259 (2010) (a judgment) and Thorpe v. Housing Authority of City of Durham, 393 U.S. 268 (1969) (the premises). See also Verdict Eviction Real property
    To annul; to cancel or rescind; torender an act void; as, to vacate an entry of record or a judgment
    To annul, to render an act void; as to vacate an entry which has been made on a record when the court has been imposed upon by fraud, or taken by surprise.
  12. Vacated Judgment

    A vacated judgment makes a previous legal judgment legally void. A vacated judgment is usually the result of the judgment of an appellate court, which overturns, reverses, or sets aside the judgment of a lower court. An appellate court may also vacate its own decisions. A trial court may have the power under certain circumstances, usually involving fraud or lack of jurisdiction over the parties to a case, to vacate its own judgments. A vacated judgment may free the parties to civil litigation [...]
  13. Vacating A Judgment

    A term that means to cancel or to rescind the court's judgement.
  14. Vacatio

    Immunity; exemption.
    Lat In the civil law. Exemption; Immunity; privilege; dispensation; exemption from the burden of office, Calvin.
  15. Vacatio Legis

    Vacatio legis (Latin: absence of law) is a technical term in both Catholic canon law and civil law which refers to the period between the promulgation of a law and the time the law takes legal effect.
  16. Vacation

    A vacation or holiday is a leave of absence from a regular occupation, or a specific trip or journey, usually for the purpose of recreation or tourism. People often take a vacation during specific holiday observances, or for specific festivals or celebrations. Vacations are often spent with friends or family. A person may take a longer break from work, such as a sabbatical, gap year, or career break. The concept of taking a vacation is a recent invention, and has developed through the last [...]
    The time between terms of court.
    That period of time betwcen the end of one term of court and the beginning of another. See Von Schmidt v. Widber, 99 Cal. 511, 34 Pac. 109; Conkling v. Ridgely, 112 III. 36, 1 N. E. 261, 54 Am. Rep. 204 ; Brayman v. Whitcemb, 134 Mass. 525; State v. Derkum, 27 Mo. App. 628. Vacation also signifies, in ecclesiastical law, that a church or benefice is vacant; e, g., on the death or resignation of the incumbant, until his successor is appointed. 2 Inst. 359; Phillim. Ecc. Law, 495.
    That period of time between the end of one term and beginning of another. During vacation, rules and orders are made in such cases as are urgent, by a judge at his chambers.
  17. Vacation Barrister

    A counsellor newly called to the bar, who is to attend for several long vacations the exercise of the house.
  18. Vacation Of Award

    The term that means to set aside an arbitration award.
  19. Vacation Pay Expense

    Money for vacation paid to the employee.
  20. Vacation Pay Payable

    Amount of money paid to an employee for vacation time.

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