DEATH TAXES
A tax that is imposed by the government on someone’s estate when he or she is dead. These taxes are levied on the beneficiary that receives the property in the deceased's will; the tax amount is based on the property's value at the time of the owner's death. Also called death duties or inheritance tax. The term was first coined in the 1990s to describe estate and inheritance taxes by those who want such taxes eliminated.
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Short-term loan where the borrower’s vehicle serves as the collateral. The borrower as the lien holder, the loans normally last for less than ...
Defeasance Clause
A mortgage provision indicating that the borrower will be given the title to the property once all mortgage terms are met. The defeasance clause is ...
Defective Title
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Prepaid Tuition Program
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