Indestructibility
Definition of "Indestructibility"
- Characteristic of a trust that prevents the invasion of its principal by the trustees while providing a lifetime income to its principal beneficiary with the rest going to the son's children or to the daughter's children in the event the son fails to have children.
- Characteristic of a material or of a design causing it to be extremely durable even under the most extreme circumstances. For example, a bomb shelter is designed to have a high level of destructibility in order to protect its occupants under the most extreme wartime conditions.
Popular Real Estate Terms
Site where mobile homes are located. Mobile home parks are often mandated by municipal zoning laws. They provide necessary utilities to the mobile homes often including recreational ...
Unlimited interest in property. A freehold estate may be a fee simple or file estate. Freehold estate includes freehold in deed, a fee simple estate; freehold in law, an inheritable estate; ...
Word, or group of words, that identifies a business or one of its products. The name is registered with U.S. Patent Office and provides legal protection for an indefinite number of renewals ...
The process of changing, updating, and altering the appearance and structural characteristics of a building. For example, John remodels the kitchen in his home by replacing the cabinets, ...
To clip or prune shrubbery,etc. ...
The interest left in an estate after all costs have been deducted. For example, if a business is willed to X for life with the balance to Y upon X's death, Y has a remainder interest. ...
Wires, such as for electricity, places beneath the floor of a structure. ...
Interest based on a 360-day year instead of a 365-day year. The former is referred to as simple interest and the latter is termed exact interest. The difference between the two types of ...
(1) Financial ability and soundness of a business or individual to afford the purchase of property. (2) Worth of the dollar in real terms considering inflation. ...
Have a question or comment?
We're here to help.