Inheritance
Definition of "Inheritance"
Personal property or real property that are passed on to heirs upon one's death.
Popular Real Estate Terms
Unable to move a structure so it must stay where it is. Except for mobile homes, property is fixed at a particular site. Inability of a person to move because he or she is attached in ...
Deed used to transfer property rights to a governmental authority. ...
That part of a roof which projects beyond the sides of the building. The eaves keep rain overflow of the sides of a building structure and seal the roof rafters. ...
Same as term deed of trust: A document that conveys title to a neutral third party (trustee) during the period in which the mortgage loan is outstanding as collateral for a debt. ...
If you’re in the business of purchasing properties, maybe as a real estate investor, you might be wondering what is cost segregation. Well, first of all, it’s a study that deals ...
If you have been wondering what can cause a market failure, the most common answer is externalities. An externality is an indirect cost or benefit to a neutral third party that comes from ...
Primary residence of an individual. The principal residence can be a single family home, condominium, cooperative, or trailer. A principal residence may qualify for a homestead exemption in ...
Personal property or real property that are passed on to heirs upon one's death. ...
Legal obligation to pay for a benefit received as if a contract has actually occurred. This may arise in a few cases so that an equitable situation occurs. An example is when a homeowner ...
Have a question or comment?
We're here to help.