Section L

LAW GUARDIAN - an attorney that is typically assigned by the judge to represent the child or children in an intense custody battle.

LEASE - a written document in which the rights to use an occupancy of land or structures are transferred by the owner to another for a specific period of time in return for a specified rent.

LEASED FEE ESTATE - an ownership interest held by a landlord with the right of use and occupancy conveyed by lease to others: usually consists of the right to receive rent and the right to repossession at the termination of the lease.

LEASEHOLD ESTATE - the right to use and occupy real estate for a stated term and under certain conditions: conveyed by a lease.

LEGAL CUSTODY- the authority of one parent or both parents to make legal decisions regarding health, education and welfare of the child.

LEGAL SEPARATION- a legal lawsuit for support while the spouses are living separate and apart.

LEVERAGE FACTORS- considerations made by each parties pertaining to the issues that are being disputed.

LIEN - an encumbrance put on a property owned by a judgment debtor. It prevents the sale, transfer of title or refinancing of the property until the debt is satisfied.

LIQUIDATION VALUE - the price that an owner is compelled to accept when a property must be sold without reasonable market exposure.

LITIGATION - the process of fighting a legal dispute in the court system.

LONG ARM - the means by which a court can get jurisdiction over someone who lives outside the jurisdiction in which the court is located.

LUMP-SUM ALIMONY- a spousal support that is ordered to be paid in a fixed amount. The completion of the payment may be made in installments. (see spousal support section).