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
After-tax cash flow is a calculation method for companies’ financial performance to show their ability to generate cash flow through their operations. The after-tax cash flow formula ...
A binding arbitration is a way to solve disputes without going to court. An alternative to the more expensive and lengthy legal procedures, a binding arbitration is basically the process ...
One to whom a gift or bequest is made. ...
Legal contract in which the lender controls the pledged property being financed. The agreement describes the property and its location. Of default occurs, the lender may sell the ...
In general terms, a licensee means a person or legal entity who has received authorization or permission to perform a particular activity through another party (the licensor in our case.) ...
Refinancing seems easy to understand but is it really? Here’s a lengthy refinancing definition so you can make up your mind once and for all regarding the exquisiteness of the ...
Under law, a warranty in effect even if not expressly stated. It provides that real property sold is warranted to be appropriate for sale and is in proper condition even if not stated, ...
A closed-end mortgage is a mortgage in which the collateralized property cannot be used as security for another loan. See also open-end mortgage for a better understanding of the ...
English architecture. This style has two levels with the second level typically overlaying the first story. The roof is high and the chimney is sculptured. ...
Have a question or comment?
We're here to help.