Sellers Hinshaw Ayers, Dorthch & Lyons P.A.

Legal Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #

-R-

RSD: Abbreviation for reflex sympathetic dystrophy.

Reach-back period: The period immediately prior to filing the bankruptcy within which transfers of money or property may be deemed fraudulent or preferential.

Reaffirmation agreement: Agreement between the debtor and the creditor that states the debtor will pay all, or a portion, of the balance owed on the installment agreement, even though the debtor has filed bankruptcy. In return, the creditor promises that, as long as payments are made, the creditor will not repossess or take back the personal property constituting the collateral for the debt.

Real estate: Any leasehold or other estate or interest in, over, or under land, including structures, fixtures, and other improvements and interests which by custom, usage, or law pass with a conveyance of land though not described in the contract of sale or instrument of conveyance. "Real estate" includes parcels with or without upper or lower boundaries, and spaces that may be filled with air or water.

Reasonable attorneys fees: Attorneys' fees reasonably incurred which may or may not be subject to limitations otherwise imposed by law.

Reasonable care: The standard of care in negligence cases; the duty to act reasonably so as to avoid harming others.

Record: To give public notice of a document by placing the document on file with the county recorder.

Records: In business, particularly corporations, all the written business documents, especially about financial dealings. Thus, shareholders and partners are entitled to access to the "records" of the business.

Recording fee: A fee charged by real estate agents for conveying the sale of a piece of property into the public record.

Redemption: A repurchase of shares from shareholders by a corporation. Also, the act of a bankruptcy debtor retaining title and possession of an asset for which there is a balance owed, by paying off in a lump sum the present value of the property and discharging any unsecured balance.

Redemption rights: Right of repurchase enjoyed by a corporation that exist for certain shares of stock.

Refinancing: The process of taking out a new loan on property already owned; paying off the existing financing and retaining the cash balance, if one exists.

Reflex Sympathetic Dystrophy: Severe pain condition due to nerve injury

Register: In corporations, the record of shareholders, and issuance and transfer of shares on the records of the corporation.

Registered agent: The person or entity that is authorized to receive legal papers on behalf of a corporation.

Registered office: The official address of a corporation. Typically this address is the same as that of the registered agent.

Regular work: Your old job, paying the same wages and benefits as paid at the time of an injury and located within a reasonable commuting distance of where you lived at the time of your injury.

Regulation Z: A federal code issued under the Truth in Lending Act that requires that a borrower be advised in writing of all costs associated with the credit portion of a financial transaction.

Release filing fee: Fee charged for note filed with the county to process the release of lien for the seller.

Remand: The act of a court of appeal returning a case to the lower court (i.e., the bankruptcy court) for further adjudication of the issues.

Remedies: Relief that the plaintiff receives from the defendant in a lawsuit. Often this will include monetary damages or equitable relief (i.e. injunctions).

Reorganization: The implementation of a business plan to restructure a corporation, which may include transfers of stock between shareholders of two corporations in a merger.

Repair allowance: An amount negotiated within a contract that the seller agrees to pay toward buyer designated repairs.

Replacement cost: The current cost of rebuilding a structure to its original specifications.

Resale value: A property's future value, which can be affected by many factors including the surrounding neighborhood, school district scores, and economic and housing market conditions.

Resident agent: The person or entity that is authorized to receive legal papers on behalf of a corporation.

RESPA (Real Estate Settlement Procedures Act): A federal law designed to make sellers and buyers aware of settlement fees and other transaction-related costs. RESPA also outlaws kickbacks in the real estate business.

Restraint of trade: In antitrust law, any activity (including agreements among competitors or companies doing business with each other) which tends to limit trade, sales and transportation in interstate commerce or has a substantial impact on interstate commerce.

Restrictions: See “Declaration” and “Covenants, Conditions and Restrictions” herein.

Reverse mortgage: A special type of loan available to equity-rich, older owners. Repayment is not necessary until the borrower sells the property.

Right of way: The right to pass over or use another's land.

Riparian rights: An owner's right to use a river, stream, or lake bordering the owner's property.

Rollback: A limitation on annual assessed value increases or a reduction in the amount of property tax paid.