Per Stirpes
Definition of "Per stirpes"
Type of property distribution occurring when a person dies intestate. The estate id divided by the children of the deceased and by their children. For example, if a husband dies intestate, having survived his wife, and there were four children resulting from the union, one of whom predeceased his father after having two children of his own, the estate would be divided so the three surviving children would each receive 25% of the estate, while the two children of the deceased fourth child would each receive 12,5% of the estate.
Popular Real Estate Terms
Six-by-six mile square area of land designated by the intersection of range lines and township lines in the rectangular survey system. ...
Deed of trust or mortgage in real estate in which the lender subordinates her loan to another lender whose priority is first if there is nonpayment by the borrower. ...
Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the holder of the mortgage will receive the mortgaged property. See also mortgage. ...
Ownership rights to real or other types of tangible or intangible property. Property rights include exclusive occupancy, possession, use, and the right of disposition. Individuals groups, ...
Properties that about and actually touch and share a common border. Properties B and C are contiguous. Property A is adjacent to properties B and C, but it is not contiguous. ...
Licensed real estate broker who has a listing of property for sale. ...
Charitable gesture, such as when real estate is donated to a charity. The fair market value of the donated property may be tax deductible as a charitable contribution. ...
The person giving property or establishing a trust. ...
Oral defamation of the character or reputation of another. It is the basis for a lawsuit. ...
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