In Kind

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In Kind

Of the same class, category, or species.

A loan is repaid in kind when a substantially similar article is returned by the borrower to the lender.

in kind

adj. referring to payment, distribution, or substitution of things in lieu of money, a combination of goods and money, or money instead of an article. It is an expression often found in wills and trusts, which empowers the executor or trustee to make distribution to beneficiaries "in kind" according to his/her discretion as long as the value is equivalent to the value intended to be given to each beneficiary. This is important since it allows distribution of furniture, heirlooms, stocks and bonds, automobiles or even real property (as well as money) among the beneficiaries without selling assets to get cash. Example: Edward Doright dies with a will that leaves his estate equally to his two daughters and a son. He has a house worth $150,000, cash of $100,000, art works valued at $50,000, two cars at $10,000 each, $150,000 in stocks, and jewelry appraised at $25,000. Since the total value is $495,000, the executor can thus divide this up by giving each child things and money valued at $165,000 each. The one taking the house would then get a car and $5,000 cash etc. In this way gifts can be distributed most appropriately to the needs of the recipients. The "in kind" provision also avoids the potential low value returns from estate sales and real estate commissions. (See: distribution, will, trust)

References in periodicals archive ?
The in-kind grant was provided by Maya Heat Transfer Technologies Ltd and Siemens PLM Software's academic program that delivers product lifecycle management (PLM) software for schools at every academic level.
The Taif project involves the provision of in-kind assistance to areas experiencing severe crises and has recently sent 12 trucks - weighing 120 tonnes - to Syrian refugees on the Turkish border.
She reported about $2 million in transfers from the Texas Victory Committee, some of it in-kind and some of it in cash.
settlement date for in-kind subscriptions and redemptions.
Creative Chatter's solution is simple and the first to make the connection between technology and in-kind donations.
Collections of in-kind donations will continue until December.
In-kind donations are accepted at central warehouses in Riyadh and Jeddah.
While some organizations reported in-kind contribution free falls, such contributions skyrocketed 92.
In-kind military benefits such as space-available travel on government aircraft, medical and dental care and commissary and exchange privileges.
In a nice touch, Young and Murkowski's home state opposed the in-kind plan.
FedEx will provide monetary or in-kind transportation support to the following relief organizations to assist with their relief efforts in Japan: The American Red Cross, The Salvation Army, Heart to Heart International, Direct Relief International, Water Missions International, The United Way Worldwide, World Vision and Project Hope.
We are encouraging kind-hearted donors to give cash instead of in-kind donations at this time because it can be easily transferred to the typhoon-ravaged areas.