Definition of "Inheritance tax"

Benny  Ergas real estate agent

Written by

Benny Ergaselite badge icon

United Realty Group Inc.

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Digital real estate refers to virtual online properties or assets that hold value, akin to physical real estate in the tangible world. These digital assets include domain names, websites, ...

Residing in or using real estate. An example is a tenant in an office building. ...

Relating to trees or shrubs normally found in temperate climates. Deciduous trees shed their leaves in the fall. Deciduous woods such as pine, oak, Maple, redwood, and spruce are widely ...

Also called interim financing. A mortgage that provides the funds necessary for the building or construction of a real estate project. The project can be a residential subdivision, a ...

The excess of total expenses over rental revenue for a real estate business. ...

Deed given by a trustee at a deed of trust foreclosure sale. ...

Land located on a precipice. ...

Amount charged for each unit of rental property. An example of a unit might be square footage of space or an apartment. ...

Grades have various definitions related to real estate and surveying land. Let’s have a look at the most common meanings of grades you’ll encounter in everyday life! Grades ...

Popular Real Estate Questions