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
Discharge of an obligation through payment or the rendering of a service. An individual is pleased with something such as work performed by an electrician at his home. Sometimes payment ...
Section of the Internal Revenue Code that addresses tax-free exchanges of certain property. The general provisions for a tax-free exchange of real estate are that the properties must be ...
Claim or debt that may be recovered by instituting a lawsuit. ...
Approving or permitting an action to occur. ...
A landowner may not divert or redirect a natural occurring waterway from his or her property causing damages to another property. Waterway is normally construed to mean streams and rivers ...
Party that receives part or all of a construction job to do from the general contractor. ...
List of dwelling units, such as homes. ...
Use of a parcel of land that will produce the greatest current value. ...
Person or business that provides an option to someone else. ...
Have a question or comment?
We're here to help.