Indestructibility
- Characteristic of a trust that prevents the invasion of its principal by the trustees while providing a lifetime income to its principal beneficiary with the rest going to the son's children or to the daughter's children in the event the son fails to have children.
- Characteristic of a material or of a design causing it to be extremely durable even under the most extreme circumstances. For example, a bomb shelter is designed to have a high level of destructibility in order to protect its occupants under the most extreme wartime conditions.
Popular Real Estate Terms
The assessment sales ratio is a way of measuring the accuracy of a property’s assessed value when compared to the property’s selling price. This measurement gives the ...
Contractual provision allowing an individual or business to renege on a commitment in certain cases without being penalized. ...
A married partner. Property may be jointly held by spouses. ...
High quality, premium wood to be used in construction such as for home building. ...
If escrow is the legal “moment” where assets are held by a third party (an escrow agent) hired by both the buyer and the seller of goods like real estate and insurance until the ...
Sale that is finalized only in the case of a particular occurrence or eventuality. ...
Revocation comes from the verb "to revoke", which means to take back the validity of something. The definition of revocation is detrimental to contract law. It gives the person making the ...
Governmental body having the responsibility for planning the future development of a jurisdictional area. A planning commission is responsible for developing and managing a zoning ordinance ...
Present worth of the property which is different than the price paid for it or its book value (cost less accumulated depreciation). The current value may be determined through appraisal. ...

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