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Succession to property upon death of the previous owner is a central concept in nearly all property systems and falls into the category of derivative acquisition.
A universal life insurance policy pays out upon death of the insured and, depending upon the type of policy, it may be possible to guarantee the amount of the proceeds.
The basis of the modern inheritance tax, however, was established during the Middle Ages in the feudal arrangement whereby all land and property was ultimately owned by the sovereign, whose permission was required to transfer any property upon death of the owner.
AARP argues that upon death of a reverse mortgage borrower, say a single person, heirs are supposed to have a choice between paying off the loan, paying 95 percent of the home's fair market value or giving the home to the lender in order to satisfy the loan.
Appointed defence minister upon death of his brother Crown Prince Sultan.
A section of the prospectus was labeled "Limited right of redemption upon death of beneficial owner".
Similar(44)
The setup owes a debt to Steven Spielberg and George Lucas: young hero Bud and his astroscientist dad arrive in rural New Mexico, rebuilding their lives after the recent and unelaborated-upon death of Bud's mother.
It had worked fine until he was called upon to write a message of regret upon the death of Al Smith.
In 1591, Hakluyt inherited family property upon the death of his elder brother Thomas; a year later, upon the death of his youngest brother Edmund, he inherited additional property which derived from his uncle.
Son of Philip of Burgundy, he inherited the duchy upon the death of his grandfather, Eudes IV, and inherited the countships upon the death of his grandmother, Joan of France.
Hieron became ruler of Syracuse upon the death of Gelon.
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