Inheritance Tax
Definition of "Inheritance tax"
State tax based on the value of property received through inheritance. The tax is paid by the recipient not the estate. Tax paid to the government or state upon the death of the taxpayer based on his or her net worth. The tax is paid by estate not the heirs.
Popular Real Estate Terms
Approach to appraise rental property based on anticipated future earnings to be derived from it plus the estimated selling price at the end of he period held. ...
Street terminating at one end with only one outlet. A dead end street is not a through street. See also cul de sac. ...
The definition of a master planned community in real estate is a community planned from the ground up with the purpose of being as convenient, aesthetically appealing and luxurious as ...
Assures that the title is free of any legal claims including encumbrances. It includes covenants of seizin, freedom from encumbrance, express warranties of title, right to quiet enjoyment, ...
Structure have two dwelling units under the same roof. Two-story apartment unit. ...
A simple box-shaped house with clapboard siding and a gable roof. ...
Giving additional time to conduct some act. An example is a landlord granting a tenant an additional week to make the rental payment. ...
Some states make the legal assumption, based on title theory, that the mortgagee is a partial owner of the real estate securing the mortgage and remains as is until the debt is fully paid. ...
Section of the Internal Revenue Code applies to assets used in a trade or business,. In general, gains on section 1231 assets are taxed at capital gains rates, and losses are considered ...
Have a question or comment?
We're here to help.