Definition of "Per stirpes"

Chad Pinkston real estate agent

Written by

Chad Pinkstonelite badge icon

DeSelms Real Estate

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.

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

In regards to , in the matter of. Formal judicial method of entitling a matter before it. ...

System of interconnected pipes, radiators, and/or ducts designed to heat a building utilizing a main heating unit. The system is controlled through a thermostat that regulates the ...

What is the meaning of a story, and what is it good for? The story definition is a floor, level, or deck in a construction or building.  What does story mean in real estate? A real ...

Before getting a loan to buy a property, you must know the definition of foreclosure. A foreclosure is the process of making a loan due immediately. Technically, a loan becomes due way ...

A lien is a legal instrument by which one party – usually lenders and creditors - guarantees the obligation of a real estate owner to do something – generally repays the money. ...

The right and duties of using and holding property. ...

The willingness of a lender to give a mortgage to a mortgagor. A mortgage commitment will give a time period the mortgage will be given and an indication of the interest rate to be charged ...

Same as term REIT: Type of investment company that invests money in mortgages and various types of investment in real estate, in order to earn profits for shareholders. Shareholders receive ...

Provision of the Internal Revenue Code applying to gains from the sale of personal property subject to depreciation. In most cases, the gains are at the capital gains tax rate limited to ...

Popular Real Estate Questions