Estate duty


 

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Estate duty

A former tax on a deceased person's estate and the forerunner of capital transfer tax which itself has been superseded by inheritance tax.



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Real Estate Investment Trust (REIT)

Real Estate Investment Trust (REIT)

REITs invest in real estate or loans secured by real estate and issue shares in such investments. A REIT is similar to a closed-end mutual fund.


Estate tax

Estate tax

In the US, a tax imposed by the federal government or state on the net value of a deceased person's estate after deduction of an exclusion. The net proceeds, after estate tax has been paid, pass to the beneficiaries. If the sole beneficiary is a spouse, no tax is payable.


Disposition of Real Estate Statement

Disposition of Real Estate Statement

A statement that the buyer will occupy the property being purchased even though the buyer owns other property. The buyer states that the other property will be sold or rented. Particulars must be given as to any loan on the property and the equity or rent to payment amounts.


Intestate

Intestate

The situation which exists when a person dies without making a will. The person is then said to have died intestate.


Real estate

Real estate

Property comprising land and buildings etc as opposed to personal property. Also known as real property.


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