Divorce Terms – L
LAW GUARDIAN – An attorney assigned by a judge to handle a child’s rights during an intense or prolonged custody disagreement.
LEGAL CUSTODY – The authority that one parent or both parents share to make legal decisions for the child.
LEGAL SEPARATION -
A lawsuit regarding support while spouses are living apart and separated.
LEVERAGE FACTORS – Things which are considered by both parties that pertain to the different issues that are being disputed.
LIEN – A hindrance put on a property owned by a debtor. It prevents the sale or any refinancing on the property until the debt has been re-paid.
LIQUIDATION VALUE - Refers to the price that the owner must accept when the property is sold without reasonable exposure, most times much lesser than its actual value.
LITIGATION – Using the court system to resolve a legal dispute.
LONG ARM – What a court must use in order to gain jurisdiction over someone outside the jurisdiction of the court.
LUMP – SUM ALIMONY – Alimony in the form of a fixed amount. Sometimes it can be paid in installments until it is fulfilled.