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
The clear, open and active occupancy of real estate. For example, notorious possession is one of the tests for adverse possession. ...
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Restoring real property to an improved state. The restoration is usually needed because the property's condition has worsened. ...
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That which remains. As applied to real estate, it is the profit derived from rentals after subtracting all operating costs from the gross rental revenue. ...
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transfer of real property by legal means such as through inheritance. ...

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