Passive(redirected from Passivo)
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adj. referring to being inactive. A "passive trustee" is one who has no responsibilities other than to hold title or wait for an event which would activate the trust. "Passive income" for tax purposes includes any income in which there is no effort or active management, and is treated differently for some purposes, such as social security income limitations. It may include stock dividends, trust profits, rents with no management involvement, and interest on bank accounts.
PASSIVE, com. law. All the sums of which one is a debtor. It is used in contradistinction to active. (q.v.) By active debts are understood those which may be employed in furnishing assets to a merchant to pay those which he owes, which are called passive debts.