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Defeasible |
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Potentially subject to defeat, termination, or Annulment upon the occurrence of a future action or event, or the performance of a condition subsequent. The most common legal application of the term is with respect to estates as interest in land, such as in the case of a conveyance or a life estate, which is defeasible upon the happening of a certain specified event, for example, the death of the person holding such an interest. DEFEASIBLE. What may be undone or annulled. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Critique: Consistent with its prior pronouncements, the IRS disallowed the marital deduction, arguing that the surviving spouse's "qualified income interest" was defeasible during her lifetime through the actions of a third party--i. |
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