Skip Person


Definition of "Skip person"

John Paulsen
  Crye-Leike Coastal Realty

Person (the transferee to whom the property is transferred) who is at least two generations younger than the person (the transferor) who is transferring the property. This type of property transfer prompts the generation-skipping transfer tax.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Water Quality Improvement Act Of 1970

1970 federal law that requires shipowners to clean up or pay for the cleanup of waters polluted by d ...

House Rules

Rules regarding day-to-day use of the premises. ...

Time And Distance Reinsurance

Type of excess of loss reinsurance in which the insurance company (cedent) receives payments from it ...

Individual Insurance

Single policy under which one individual is insured. ...

Open Mortgage

A mortgage where the payments are overdue and open to a foreclosure action at any time. A mortg ...

Unsecured Loan

loan that is not secured by a mortgage on a specific property. It is backed only by the borrower's c ...

Related Real Estate FAQ

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you ...

Should I Consolidate My Debt?

Discover your potential monthly savings by combining your bills into a single source. Eliminate high ...

What Is An Investment Property?

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

What Is A APR Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input par ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and ...

What Is A Negative Amortization?

A negative amortization is a type of loan situation that occurs when the monthly payments do not cov ...

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

Is it better to buy or sell a home first What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? 6 Reasons you are not selling properties 7 Tips for a First Time Homebuyer What is Hazard Insurance?

FAQ

How Much Will My Principal Be? What is Disability Insurance? What is cooperative? What is a seller disclosure? What does Fannie Mae mean?