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
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Document submitted to a governmental agency to extend the time period for a previously approved document. ...
Fluctuation in sales, profits, rat of return, etc. Likelihood of declining value. ...
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Cancellation of a contract such as when a real estate agreement is deemed illegal. ...
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Lender's written assurance that the borrower has fully paid the obligation. The borrower may then show this instrument to interested parties. ...
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