The 2-Minute Rule for real estate agent

The 2-Minute Rule for real estate agent

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prevalent property community property mental property private property property damage property problems insurance policies property correct property tax general public property

Examine tenancy in common at tenancy — Local community property : property held jointly by husband and spouse particularly : property Primarily from employment obtained by both spouse soon after marriage that is definitely deemed in states aquiring a Neighborhood property procedure to belong to equally spouses as undivided one-50 percent interests

with the corporation : property belonging to a certain individual — skilled terminable interest property : property passing to your surviving spouse that qualifies for that marital deduction When the executor so elects furnishing that the wife or husband is entitled to obtain profits in payments created not less than each year for all times and that not one person has a power to appoint any Component of the property to any person besides the surviving spouse

see also antenuptial arrangement Note: In the majority of states, on divorce marital property is divided In keeping with what the court docket determines is equitable. — movable property : property (as personalized property or crops) that can be moved — individual property : property (for a car) that is definitely movable but not like crops or other means nevertheless hooked up to land : property other than real property a tax on the private property

— real property : property consisting of land, properties, crops, or other sources however attached to or inside the land or advancements or fixtures permanently connected to the land or even a composition on Additionally, it : an curiosity, profit, correct, or privilege in these kinds of property

termed also immovable property — independent property : property of the wife or husband that is not Local community property or marital property Primarily : property acquired by a husband or wife right before marriage or independently through marriage (as by gift or typically by inheritance) — tangible property : property that has a tangible and corporeal existence and intrinsic economic price thanks to it the insurance coverage limited property destruction coverage to tangible property

These examples are programmatically compiled from a variety of on line sources For instance latest use with the word 'property.' Any thoughts expressed while in the illustrations do not symbolize People of Merriam-Webster or its editors. Mail us suggestions about these examples.

— marital property : property obtained by possibly wife or husband throughout the training course of the relationship that may be subject to division upon divorce

see also asset, estate, fascination perception one, possession sense 1e — abandoned property : property to which the proprietor has relinquished all legal rights Take note: When property is deserted, the owner provides up the realistic expectation of privateness about it. The finder of deserted property is entitled to keep it, along with a police officer may possibly acquire possession of deserted property as evidence with out violating the ensure in opposition to unreasonable lookups and seizures during the Fourth Amendment to more info the U.S. Constitution. — right after-obtained property : property (as proceeds) that a debtor acquires following the commencement of the individual bankruptcy case and that is generally deemed Section of the individual bankruptcy estate : property obtained once the perfection of a lien or security interest especially : this sort of property acquired following the development of the lien or stability desire that's subject into the lien or results in being collateral for the safety fascination : property transferred for the estate of a decedent following execution of the will — common property : property owned or employed by more than one party exclusively : property owned or leased by tenants in common

possession in indivision at ownership Note: The states owning community property laws are Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, New Mexico, and Wisconsin. — immovable property : real property With this entry especially, within the civil regulation of Louisiana : tracts of land with their part components — intangible property : property (to be a inventory certificate or Expert license) that derives value not from its intrinsic Bodily nature but from what it represents — mental property

of not conducting heat character relates to a peculiar and unique quality of a issue or a category.

a : a high quality or trait belonging and particularly peculiar to a person or detail b : an result that an object has on A different object or around the senses c : virtue sense 2 d : an attribute common to all members of a category

a : some thing owned or possessed specially : a piece of real estate b : the distinctive suitable to possess, delight in, and dispose of a issue : ownership c : a thing to which an individual or business enterprise includes a lawful title d : a single (such as a performer) that is below deal and whose perform is very worthwhile e : a guide or script procured for publication or manufacturing

property indicates a characteristic that belongs to the issue's essential mother nature and may be made use of to describe a sort or species.

see also QTIP believe in at trust Observe: Under federal tax legislation the property must be included in the gross estate with the surviving spouse at their have Dying, wherever it can be subject matter to taxation.