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Testamentary trust
Testamentary trust A trust established by will.
RELATED TERMS--------------------------------------
Trust
An arrangement whereby legal title to property is transferred by the grantor (or trustor) to a person called a trustee, to be held and managed by that person for the benefit of another, called a beneficiary.
Will
A written document, properly witnessed, providing for the transfer of title to property owned by the deceased, called the testator.
SIMILAR TERMS--------------------------------------
Test Valley property
Property in Test Valley, Great Britain. Apartments, flats, houses, offices and other property in Test Valley.
Testate
Having made a will before death.
Testator
A male who has made a valid will.
Testatrix
A female who has made a valid will.
PREVIOUS AND NEXT TERMS--------------------------------------
Term length
Specifies the effective period for the lease.
Term loan
A short-term loan requiring interest-only payments until maturity, at which time the entire principal is due and payable.
Termite inspection
A visable check of a property for the presence of termites, usually performed by a licensed exterminator.
Terms and conditions
The negotiable issues outlined in the offer to purchase and - or the purchase and sale agreement.
Terrace
A terrace can be several things: an unroofed paved area right next to a house; a roofed balcony; a veranda; or a raised bed of earth constructed to enhance a landscape.
Testamentary trust
Testate
Having made a will before death.
Testator
A male who has made a valid will.
Testatrix
A female who has made a valid will.
The 72-hour clause
When a buyer has a house to sell before they can purchase another home, most sellers insist on a 72-hour clause. In the event of a better offer coming in before the contingency is settled, this clause entitles the seller to give the buyer 72 hours to remove the contingency or lose the house.
The Fed
Congress founded the Federal Reserve Board, the central bank of the United States, in 1913. It conducts the nation's monetary policy and regulates its banks in order to achieve a flexible and stable economy.
This dictionary contains 6433 terms. |
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