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Definitions from WordNet

Definitions from the Web

Terminable Interest

Definition:

A terminable interest refers to a legal or financial arrangement where an individual has a limited duration of ownership or control over an asset or property.

Usage:

1. Noun

a) Legal Sense: In estate law, a terminable interest is a type of property right that ends upon the occurrence of a specific event or after a predetermined time period. For example, a person may have a terminable interest in a trust or a life estate, which would cease upon their death or after a certain number of years.

b) Financial Sense: In financial planning, a terminable interest may refer to an investment or annuity that will expire, be liquidated, or transferred after a certain period of time or upon reaching a specified condition.

2. Adjective

Popular Sense: Referring to something that is widely known or acknowledged in a particular interest group or locality.

Local Sense: Pertaining to something specific to or characteristic of a particular region or area.

Examples:

1. Noun:

a) Legal Sense: She had a terminable interest in her late father's estate, which would be transferred to her brother upon her death.

b) Financial Sense: The investment offered a terminable interest, allowing the investor to withdraw the funds and receive returns after a five-year term.

2. Adjective:

a) Popular Sense: The band's hit single became a terminable interest among music enthusiasts.

b) Local Sense: The unique artwork showcased in the gallery attracted terminable interest from the local community.

Possible Related Products:

Trusts and Estates Law Books

Financial Planning and Investments Books