trusts, inheritances & estates

Deed in Lieu of Foreclosure

Definition from Nolo’s Plain-English Law DictionaryA means of escaping an overly burdensome mortgage. If a homeowner can't make the mortgage payments and can't find a buyer for the house, many lenders will accept ownership of the property in place of the...

Deed of Trust

A Deed of Trust is a type of secured real-estate transaction that some states use instead of mortgages. See State Property Statutes.

A deed of trust involves three parties: a lender, a borrower, and a trustee. The lender gives the borrower money...

Definite Trust Beneficiaries

Definite beneficiaries are a requirement of an express trust along with trust property, trust intent, and a trustee. This means that the identities of the beneficiaries must be ascertainable. As long as there are objective standards on which to define...

Degree of Kinship

Definition from Nolo’s Plain-English Law DictionaryThe level of the relationship between two persons related by blood -- for example parent to child, one sibling to another, grandparent to grandchild, uncle to nephew, and so on. This may become important...

Demise

Definition from Nolo’s Plain-English Law DictionaryTransfer of real estate by a lease or will. Traditionally, the transfer was limited to a term of years but the expression has come to refer to outright gifts as well.

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Dependent Relevant Revocation (DRR)

Dependent relevant revocation (DRR - also known as ineffective revocation) is a doctrine in trusts and estates law. It makes a revocation of a former will ineffective if the testator made the revocation through execution of a new will, and that...

Descendant

A descendant is a person born in a direct biological line. For example, a person's children, grandchildren and great-grandchildren are their descendants.

Descent

Definition from Nolo’s Plain-English Law DictionaryThe passing of estate property through inheritance, either by law or through estate planning -- as opposed to acquisition of property through other means, such as purchase.

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Descent and Distribution

Definition from Nolo’s Plain-English Law DictionaryThe rules by which an estate is distributed after the owner's death. This may occur according to the decedent's estate plan or according to intestate laws if the decedent died without an estate plan.

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Determinable

Definition from Nolo’s Plain-English Law Dictionary1) Capable of being determined by a court.2) Capable of being terminated on the occurrence of a particular event, usually used to describe an interest in real estate.

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