Gift In Trust


Definition of "Gift in trust"

Value or property given by an individual to a trustee who holds and administers it for the benefit of the donee (recipient of the gift). For example, a father entrusts a life insurance policy with all ownership rights to a trustee. The trustee owns the policy, collects the proceeds, and administers the proceeds for the benefit of the donee son.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Roth Individual Retirement Account (ira)

Separate account created by the Tax Relief Act of 1997 and named after Senator William Roth Jr. of D ...

Discount Loan

A loan in which the entire charge is subtracted up front from the face value of a loan. The proceed ...

Statement (insurance Company To Insured)

Annual report to policyholders of certain cash value life insurance products and annuities to inform ...

Death Benefit

Amount payable, as stated in a life insurance policy, upon the death of the insured. This is the fac ...

Limit, Per Person

Maximum amount under a liability policy that insurance company will pay for bodily injury incurred b ...

Gambling

Risk-creating device as compared with insurance, which is a risk-reducing or -eliminating device. Th ...

Related Real Estate FAQ

What Is A Down Payment?

A down payment is the money you pay up front for the purchase of a home. ...

What Is A Seller Takeback?

A seller takeback is a type of financing in which the seller arranges for the financing on a propert ...

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What Is A Gated Community?

A gated community is a community of homes where you must pass through a security gate in order to en ...

What Is An Investment Property?

An investment property is a property you purchase with the intension of using it as a rental income ...

What Are My Coverage Options?

Our agents have a wide range of coverages available, as well as an array of choices for limits and d ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Foreclosure - The Pros and Cons of Buying 3 tips to ensure your sale goes through How to become a real estate agent What is Hazard Insurance? 5 signs of house foundation problems

FAQ

What is a mortgage? What are the benefits of Business Owners Insurance? What is a gift letter? What does computer insurance cover that my warranty doesn't? What is accession?