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
To acquit, exonerate, absolve, or discredit allegations. ...
The number of days that the lender guarantees the loan's rate and terms. Without a written lock-in agreement, the lender is free to change the rate and terms at the time of loan closing. A ...
When you hear someone in real estate saying there will be a boring test, they don't mean a dull exam is coming up. What is a soil boring test? Let's find out the meaning of a boring test! ...
Credential awarded by the International Association of Assessing Officers to appraisers of real property working for a government body. ...
Annual Percentage Rate (APR) is a measure of the cost of credit that must be reported by lenders under the Truth in Lending regulations. The Annual Percentage Rate (APR) takes into ...
Usual operating service life of property for the purpose it was acquired. The useful life used for depreciation accounting does not necessarily coincide with the actual physical life or any ...
One who has committed a tort. A tort is a civil wrong that occurs as a result of a breach of legal duty owed to someone, e.g., negligence. A tort does not arise from a breach of contract. ...
Local geographic area with similar characteristics. It may be referred to by name (e.g., Brooklyn Heights, Palisades) and have designated boundaries. There are major streets such as for a ...
A life estate right of a widow on the demise of her husband, if he dies intestate, to all his lands and possessions for her and her children's support. If she dissents from his will, the ...

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