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future interest |
Also found in: Financial, Wikipedia | 0.03 sec. |
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A claim on property, real or personal, that will begin at some point in the future. A future interest allows the grantor to retain the right to use that property until the specified transfer date. Future interest agreements are often used by donors for tax purposes. For example, a person may grant a future interest in his or her home to a charity, with the stipulation that he will retain use of the home for the remainder of his life, also called a "life estate." Although the charity will not receive the property until the donor's death, the donor can claim a tax deduction the same year the future interest is granted. Also called future estate. Cross-referencesfuture interest n. a right to receive either real property or personal property some time in the future, either upon a particular date or upon the occurrence of an event. Typical examples are getting title upon the death of the person having present use, outliving another beneficiary, reaching maturity (age 18), or upon marriage. See also: reversion 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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The spike in the ABI this month reflects reinvigorated design activity now that national elections have concluded and future interest rate policy is clearer," said Matthew A. Concerns about the likelihood of future interest rate increases continue to influence the market. How many universal life policies have been sold with premiums based on blatantly false mortality projections, assumed increases in future interest rates and assumed lapse funding? |
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