Definition of "Per stirpes"

Chad Pinkston real estate agent

Written by

Chad Pinkstonelite badge icon

DeSelms Real Estate

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.

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

Land that has poor income potential, usually used in an agricultural sense meaning that the land is untellable, has poor access, is extremely steep, has suffered serious erosion, is ...

A situation that occurs when borrowed funds cost more than they produce. ...

Expenditure paid to occupy property over a specified time period. ...

Floor design to provide sound insulation qualities. A floating floor is separated from the building's structure by use of special resilient materials, often fabricated from fiberglass, or ...

The interest rate charged for a loan. For example, John obtained a $10.000 loan from the bank charging 10% interest. ...

mortgage being reduced through periodic principal and interest payments. ...

Use of other people's money (OPM) in an attempt to maximize the return but at high risk. The use of leverage in real estate investing is a way to maximize yield on a small down payment. ...

The initial lessee of rented property who then leases it to a subtenant. ...

Same as term resale proceeds: Net amount received when property is sold. It equals the selling price less outstanding mortgage balance less all costs incurred in connection with the sale. ...

Popular Real Estate Questions