wex definitions

adjustment

Adjustment is a settlement, allowance, or deduction made on a debt or claim that has been objected to by a debtor or creditor in order to establish an equitable arrangement between the parties.

For tax returns, an IRS-...

adjustment date

Adjustment date is the date on which a financial term of a contract or transaction is set to change. In real estate, it usually refers to the date on which the interest rate of an adjustable rate mortgage (ARM) changes. An ARM’s interest rate...

adjustment of status

Adjustment of status (AOS) is the process that one can use to apply for lawful permanent resident status (also known as applying for a Green Card) when one is present in the United States. Adjustment of status is processed by the United...

adjustment period

Adjustment period is the time within which the interest rate on an adjustable-rate mortgage (ARM) can reset. It is the scheduled amount of time between each adjustment date.

Adjustment periods are set at month-to-month, semi...

administer

Administer means to carry out a task or give something to someone. Administer appears in a variety of contexts in the legal field. For example:

A trustee administers the assets of an estate by dispersing, selling, or managing the...

administration (of an estate)

Administration of an estate means the management of the assets and liabilities of someone who has died. When a person has not designated a personal representative by will to deal with their estate upon death, the court will appoint an administrator...

administrative agency

A government body authorized to implement legislative directives by developing more precise and technical rules than possible in a legislative setting. Many administrative agencies also have law enforcement responsibilities.

See...

administrative expenses

Administrative expenses are defined under §507(a)(1) of the U.S. Bankruptcy Code which states that claims that are given first priority distribution are those claims allowed as administrative expenses under §503(b). Administrative expenses...

administrative forfeiture

Administrative forfeiture is an in rem (against the property) action that allows the property to be forfeited to the United States without filing a case in federal court. The administrative forfeiture process occurs before the agency seizes...

administrative hearing

Administrative hearings are the proceedings conducted by administrative law judges (ALJ) for disputes involving the regulatory jurisdiction of an executive agency. Administrative hearings resemble judicial proceedings in many ways with there...

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