terminable interest
terminable interest see interest 1

Merriam-Webster’s Dictionary of Law. . 1996.

terminable interest
n.
An interest in property that ends when a particular event occurs or does not occur.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


terminable interest
n. An interest in property that will end upon the passage of time, the occurrence of an event, or the failure of an event to occur. It applies to a class of property that usually does not qualify for a marital deduction under the federal estate and gift tax regulations.

Webster's New World Law Dictionary. . 2000.

Look at other dictionaries:

  • terminable interest — An interest in property which terminates upon the death of the holder or upon the occurrence of some other specified event. The transfer of a terminable interest by one spouse to the other spouse may not qualify for the marital deduction …   Black's law dictionary

  • terminable interest — For estate tax purposes, an interest which terminated on or before the death of the one whose estate is sought to be taxed. Goodman v Granger (CA3 Pa) 243 F2d 264, cert den 355 US 835, 2 L Ed 2d 47, 78 S Ct 57. As to failure of terminable… …   Ballentine's law dictionary

  • terminable interest — noun an interest in property that terminates under specific conditions • Hypernyms: ↑interest, ↑stake …   Useful english dictionary

  • nondeductible terminable interest rule — non·de·duc·ti·ble terminable interest rule /ˌnän di dək tə bəl / n: a rule in estate tax law: the value of a property interest that passes to a surviving spouse may not be deducted if it passes from the surviving spouse to another person for less …   Law dictionary

  • qualified terminable interest property — see property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Qualified Terminable Interest Property (QTIP) Trust — A type of trust that enables the grantor to provide for a surviving spouse and also to maintain control of how the trust s assets are distributed once the surviving spouse has also died. Income, and sometimes principal, generated from the trust… …   Investment dictionary

  • Qualified Terminable Interest Property Trust — ( Q TIP) A trust that allows a surviving spouse to receive income generated from the trust, while the actual distribution of the trust s assets is made to other beneficiaries such as the grantor s children. Bloomberg Financial Dictionary …   Financial and business terms

  • qualified terminable interest property — (Q TIP) See Q TIP trust …   Black's law dictionary

  • terminable — ter·mi·na·ble / tər mə nə bəl/ adj: capable of being terminated see also qualified terminable interest property at property; terminable interest at interest 1 Merriam …   Law dictionary

  • interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim …   Law dictionary

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