Definition of "Indestructibility"

Mariette Gagne real estate agent

Written by

Mariette Gagneelite badge icon

Marketplace Realty

  1. 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.
  2. 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.

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

individual who purchases property for another for the purpose of not identifying to the seller and other interested parties the real identity of the true acquirer. The individual who makes ...

An deir to an individual who died intestate and is entitled, under the distribution statute, to a portion of its proceeds. After all claims against the estate are satisfied, the ...

Fence constructed at the property line or other division point separating a subdivision or a home site. It marks the point of separation between two separate properties. ...

Rate of return of capital invested in building improvements. Is segregated from land investments and provides a method of separating property income streams between improvement and land ...

Fee charged by a public registry for the administrative costs of recording an instrument. For example, a municipal registry charges $30 to record a property mortgage. ...

Amount the taxpayer gets back when he or she files the tax return at the end of the reporting year because taxes were overpaid for that year. The tax overpayment equals the tax payments ...

Provision in a mortgage permitting the owner of property to transfer the mortgage to a buyer. ...

The seller disclosure is a statement made in good faith regarding the condition of the home he/she is trying to sell. There is a seller disclosure form – called “Form 17” ...

Registered real estate broker who charge a flat fee, rather than a commission, for real estate purchase and sale transactions regardless of the property's sale price. No fee is charge if ...

Popular Real Estate Questions