A viatical settlement is a contract between a life insurance policyowner and a company that purchases their policy. The policyowner receives a lump sum payment in exchange for the transfer of their life insurance policy to the purchaser. The purchaser then becomes the policy’s beneficiary and pays the premiums until the policyowner passes away. […]

Operating agreements are essential documents for businesses that operate as Limited Liability Companies (LLCs). They outline the rules and regulations that govern the management, ownership, and operation of the company. Additionally, they help to prevent internal disputes and provide a legal framework for the operations of the business. One of the most common questions […]

Art Agreement Definition: What Does It Mean? As a copy editor, I have come across many terms related to the world of art. One such term that often pops up is “Art Agreement.” For those who are not familiar with this term, it can be confusing and intimidating. So, what exactly does Art Agreement […]

Subordination Agreement Znaczenie: Understanding the Basics A subordination agreement is a legal document that is used to establish a hierarchy of liens on a property. In simpler terms, it is a document that specifies which creditor has the first claim to the property in the event of a default on a loan or mortgage. […]