Limited administration – within the meaning, given by the Inheritance Law, this term refers to a limited management of the assets of a deceased person, and usually it is appointed by the local court.

Limitation clause – this is a voluntary clause in contracts, setting the maximum of a penalty for delay or non-performance to be claimed in eventual case of non-performance by one of the parties.  Please consult with an independent lawyer before…

Life tenant – within the meaning of the Property Law in many European countries, this is a person who has been granted with a right, implemented in a Title Deed for gift of a property against providing personal care, to…

Life property deed – in the meaning, given by the Real Estate Law, this is a possession right given to you to use and to manage land and/or structures on land only for the life tenant. The asset goes back…

Life imprisonment – within the area of Criminal Law this term refers to a sentence, given for serious crimes, for example murders of 2 or more people.

Life assured – within the area of Insurance Law, this legal term details the figure of a person who has signed a life insurance policy with a local insurance company. The life interest on this policy will be forwarded to…

Lien waiver – this term refers to an application for release of a lien on a property, for example, a situation of purchased apartment via mortgage credit, once the mortgage loan has been paid back in full towards the crediting…

Lien of foreclosure – this is the form of a lien once the mortgage deed or the mortgage claim has been registered at the Land Register as a burden in favor of the money lender (who is usually a local…

Lien creditor – this term details the legal figure of a creditor who has set up a lien on the debtor’s assets in order to secure payment of their debt. The enforcing a judgment against this property by the legal…