Per Stirpes
Definition of "Per stirpes"
Type of property distribution occurring when a person dies intestate. The estate id divided by the children of the deceased and by their children. For example, if a husband dies intestate, having survived his wife, and there were four children resulting from the union, one of whom predeceased his father after having two children of his own, the estate would be divided so the three surviving children would each receive 25% of the estate, while the two children of the deceased fourth child would each receive 12,5% of the estate.
Popular Real Estate Terms
Timber in an original form, such as a pole. ...
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Estimated value of property after a specified time period. ...
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mortgage being reduced through periodic principal and interest payments. ...
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Structure not directly belonging to a property but considered a part of it through the use of an easement of common consent. ...
See historic structure. ...
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