Abandonment in real estate refers to the voluntary surrender of property, owned or leased, without naming a successor. Such property often reverts to an entity holding a prior interest or, if no owner is apparent, to the state. Abandonment does not negate obligations unless acknowledged by the obligee.
Legal age refers to the official standard of maturity upon which an individual is considered legally responsible for their actions. In the context of real estate, contracts involving minors are typically voidable.
Vicarious liability refers to the legal responsibility imposed on one party for the actionable conduct of another party, based on the relationship between the two entities. It is often encountered in employer-employee scenarios, where employers may be held responsible for the actions of their employees.
