marital deduction :: legal definition

Related Law Terms

abandonment :: n. the act of intentionally and permanently giving ... : abandon abandoned property patent
accretion :: n. 1) in real estate, the increase of the actual l ... cted event. See also: probate trust
ad valorem :: adj. Latin for "based on value," which applies to ... per parcel. See also: property tax
advancement :: n. a gift made by a person to one of his or her ch ... tate gift in contemplation of death
appraise :: v. to professionally evaluate the value of propert ... surance claims. See also: appraiser
appraiser :: n. a professional who makes appraisals of the valu ... isal Institute). See also: appraise
assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property.
bad debt :: n. an uncollectible debt. The problem is to determ ... ust no income on which to be taxed.
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
basis :: n. the original cost of an asset to be used to det ... ssistance. See also: adjusted basis
breach :: 1) n. literally, a break. A breach may be a failur ... breach of trust breach of warranty
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
charitable remainder trust (Charitable Remainder Irrevocable Unitrust) :: n. a form of trust in which the donor (trustor or ... ed up or committed. See also: trust
child support :: n. court-ordered funds to be paid by one parent to ... ild custody divorce spousal support
claim against an estate :: n. upon the death of a person and beginning of pro ... ade to the heirs. See also: probate
commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another.
community property :: n. property and profits received by a husband and ... and distribution separate property
contemplation of death :: n. the anticipation of death in a relatively short ... e also: unified estate and gift tax
contingent interest :: n. an interest in real property which, according t ... ontingent remainder future interest
deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed
deed of trust :: n. a document which pledges real property to secur ... : foreclosure mortgage reconveyance
descent :: n. the rules of inheritance established by law in ... on inheritance intestate succession
dominant estate :: n. in real estate law, the property retained when ... See also: easement servient estate
double taxation :: n. taxation of the same property for the same purp ... it is not discriminatory or unfair.
dower :: n. an old English common law right of a widow to o ... t and distribution widow's election
equity :: n. 1) a venerable group of rights and procedures t ... ry enjoin equitable injunction writ
estate tax :: n. generally a federal tax on the transfer of a de ... commonly called an inheritance tax.
execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution
executor :: n. the person appointed to administer the estate o ... sed decedent executrix probate will
fair market value :: n. the amount for which property would sell on the ... so: appraise appraiser market value
fiduciary :: 1) n. from the Latin fiducia, meaning "trust," a p ... lation fiduciary relationship trust
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale
generation skipping :: adj., adv. referring to gifts made through trusts ... to a grandchild without a gift tax.
gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax
heir :: n. one who acquires property upon the death of ano ... y pretermitted heir succession will
impound :: v. 1) to collect funds, in addition to installment ... cases. See also: forfeit forfeiture
in kind :: adj. referring to payment, distribution or substit ... . See also: distribution trust will
income tax :: n. a tax on an individual's net income, after dedu ... al government. See also: income tax
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title
jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue
laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.).
land :: n. real property, real estate (and all that grows ... See also: real estate real property
lapse :: 1) v. to fail to occur, particularly a gift made i ... eficiary devisee legatee trust will
lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer
leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging.
levy :: 1) v. to seize (take) property upon a writ of exec ... heriff's sale tax writ of execution
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property.
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
living trust :: n. sometimes called an inter vivos (Latin for "wit ... thrift clause trust trustee trustor
market value :: n. the price which a seller of property would rece ... ich are often called "comparables."
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
operation of law :: n. a change or transfer which occurs automatically ... atically upon the child turning 18.
pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will
pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title.
property tax :: n. an annual governmental tax on real property or ... are made. See also: ad valorem tax
protest :: 1) v. to complain in some public way about any act ... dishonored (not paid by the bank).
real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit.
real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion
reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust
record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial
reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation.
remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder
rental value :: n. the amount which would be paid for rental of si ... alimony to be paid. See also: rent
resulting trust :: n. a trust implied by law (as determined by a cour ... See also: constructive trust trust
separate property :: n. in community property states (California, Texas ... pouse. See also: community property
servient estate :: n. real property which has an easement or other us ... See also: dominant estate easement
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage
tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax
Tax Court :: n. a federal agency with courts in major cities wh ... Appeals. See also: court income tax
title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance
tort :: n. from French for "wrong," a civil wrong or wrong ... nce slander trespass wrongful death
trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee trustor
unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift tax
will :: n. a written document which leaves the estate of t ... will and testament probate testator

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.