Spendthrift Trust Clause

Definition of "Spendthrift trust clause"

Provision in a life insurance policy that protects its proceeds from the beneficiary's creditors. On payment, the beneficiary loses the protection of the spendthrift trust clause and the beneficiary's creditors can then bring suit to attach the proceeds.

Search Real Estate Glossary

Related Real Estate Glossary terms

Loan Officer

Employees of lenders or mortgage brokers who find borrowers, sell and counsel them, and take appli ...

Probate

Legal proceeding whereby the will of a deceased is tested for validity. ...

Nonassumption Clause

A clause inserted in a mortgage agreement requiring a future buyer of the subject property to obtain ...

Location

Place where real estate is situated. The geographic location of property affects its value. For exam ...

Breather Roof

Roof constructed on a storage tank designed to expand and contract directly with the level of stored ...

Competence

Capacity of parties to an insurance contract to understand the meanings of their action in order for ...

Related Real Estate FAQ

What Do I Need To Know About Homeowners Insurance?

It is where you live and where your possessions are. Chances are, it\'s your asset. But more than po ...

What Are The Benefits Of Liability Insurance?

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case ...

What Is Homeowners Insurance?

Homeowners insurance is an insurance policy that combines personal liability insurance and hazard in ...

What Is A Negative Amortization?

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

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Gue ...

What Is Commission?

The fee an agent earns for the sale of a home-usually a percentage of the selling price. ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

What is Escrow and how does it Work? What is Hazard Insurance? Mortgage Loan Types 7 Things to Consider Before Moving to a New City 3 tips to ensure your sale goes through

FAQ

What is principal? What are the benefits of Business Owners Insurance? What is the APR for This ARM Loan? What is a term? What is accession?