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

Probationary Period

Time, in health insurance, from the first day of a disability, illness, or accident during which no ...

Long-term Insurance

Insurance written for a period of time greater than one year. ...

Face Brick

It is an exterior decorative brick surface. The brick is not rendered. Painted, or plastered and i ...

Duplication Of Benefits

Coverage in health insurance by two or more policies for the same insured loss. In such a circumstan ...

Participating Policy Dividend

Life insurance contract that pays its owner dividends, which can be: taken as cash; applied to red ...

Ask Price

Listed and initial price for a piece of real estate. ...

Related Real Estate FAQ

Do I Need Earthquake Insurance?

If you live in an Earthquake zone. Yes! Typically most homeowners insurance insurance coverage would ...

What Is An Appreciation?

Changes in the market conditions, or improvements to the property that increase the value of the pro ...

What Does FSBO Mean?

FSBO means for sale by owner. ...

What Is A Gift Letter?

A gift letter is when an individual gives you money for a down payment as a gift, that person must w ...

What Is An Assumable Mortgage?

A type of purchase in which the buyer assumes the responsibility of making payments on a sellers hom ...

What Is A Lifetime Rate Cap?

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest ra ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

Foreclosure - The Pros and Cons of Buying When to buy a house How To Get A Loan with Bad Credit Top Five Reasons Your Home Offer was Rejected What is Escrow and how does it Work?

FAQ

What is the APR for This ARM Loan? What is a Good Faith Estimate? What is an appraised value? What is homeowners insurance? What is homeowners association (HOA)?