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Simple English definitions for legal terms

rollover

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A quick definition of rollover:

Rollover refers to two different financial actions. Firstly, it is the renewal or extension of a short-term loan or note. Secondly, it is the transfer of funds from one investment to another of the same type, often done to delay paying taxes.

A more thorough explanation:

Definition: Rollover refers to two different financial actions:

The extension or renewal of a short-term loan or note.
The transfer of funds, such as IRA funds, to a new investment of the same type, especially to defer payment of taxes.

For example, if a borrower has a short-term loan that is due to be paid back soon, they may choose to rollover the loan by extending the loan term and refinancing the loan. This allows the borrower to continue using the funds without having to pay back the loan in full.

Another example of rollover is when an individual transfers their IRA funds to a new IRA account of the same type. This allows the individual to defer paying taxes on the funds until they withdraw them from the new account.

These examples illustrate how rollover can be used to extend or renew a loan or to defer taxes on investments.

roll of members | rollover mortgage

General

General chat about the legal profession.

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Dkk

12:02

Just part of the culture.

BulbasaurNoLikeCardio

12:04

I wish that wearing a mask when sick stuck around as an okay thing like it is in the rest of the world, not all of us have enough sick days to be ditching work.

Dkk

12:04

Unless its like an N95 i dont think it will really do anything

Eggan

12:04

there's even a mask ban in some places. altho one of my coworkers wears a mask anyway despite customers being rude to her about it

ChowieBean

12:05

good morning

ChowieBean

12:05

why does umiami ask "Are you applying, or have you applied, to other law schools? If so, please list them."

BulbasaurNoLikeCardio

12:05

One manager came in sick wearing a mask, got roasted and stopped wearing it that day. The entire office has been cycling sickness for two weeks now. It may not be super effective but it may help in slowing the spread during meetings when we have to be so close

riordanker

12:05

am i the only one who has never gotten my status checker to work on here?

BulbasaurNoLikeCardio

12:06

@ChowieBean: want to see what schools they share an applicant pool with, think it is all data harvesting stuff no a +/- for the applicant

ChowieBean

12:06

ok good cuz idk whether i wanna tell them or not

ChowieBean

12:06

thanks bulbasaur

Eggan

12:08

not to be that guy again but berkeley person/applicant id is back and Shiny New Logo

WelfareIsACat

12:08

be that guy

jackfrost11770

12:09

EW THE NEW LOGO IS SO UGLY

jackfrost11770

12:09

WTF

ChowieBean

12:09

need to send in my berkeley app rawwwww

BulbasaurNoLikeCardio

12:09

@ChowieBean: should be required to tell them, the schools who asked I only told them the schools in their area not all of them.

BulbasaurNoLikeCardio

12:10

*shouldnt be

Eggan

12:12

@jackfrost11770: if i get a berk A today and they have that logo im withdrawing (/s /s /s /j /j /j)

babycat

12:12

@ChowieBean: me too lol. you applying to public interest scholars program?

ChowieBean

12:14

yes def applying public interest

ChowieBean

12:16

i was raised like blocks away from umiami

ChowieBean

12:16

idk if i wanna go back to florida tho so im applying there as safety/target 💀

info-man

12:25

@ChowieBean: doing the same thing

MinorHomelyStoat

12:26

Does anyone think au gonna get back to us today

MinorHomelyStoat

12:26

My app was complete Oct 11

MinorHomelyStoat

12:27

If yes what time

Dkk

12:29

Sure, yes! 11:22:24 PST

ClassyPleasantHeron

12:30

I wonder if Berk was updating their system so that they could watch more video.

1a2b3c4d26z

12:41

They updated it so they could watch my video one trillion times

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