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 contribution being proposed in New Jersey may eventually end up resembling one executed by Pittsburgh in 2010, when the City Council irrevocably dedicated parking revenues to the city's three employee pension funds for 31 years.
The Network looks for in-kind gift partners to donate their services.
Though the monthly allowance I get from the Beit Al Khair Society is coupons, it is better, faster, and safer to be more stringent with in-kind charity.
The in-kind grant for WatSat includes Siemens PLM Software's NX[TM] software, a leading integrated solution for computer-aided design, manufacturing and engineering (CAD/CAM/CAE), and Maya Heat Transfer Technologies Ltd's Simulation Software.
She reported about $2 million in transfers from the Texas Victory Committee, some of it in-kind and some of it in cash.
This importance of government tax credits and in-kind transfer income is most pronounced when looking at the bottom quintile of the income distribution.
The in-kind contribution is composed of Preferred Membership Interests of AT&T Mobility-a new share class.
Summary paragraph: From aiCIO Magazine's Fall 2011 Issue: One public pension considers in-kind contributions.
M2 EQUITYBITES-October 8, 2010-SunAmerica Focused Alpha Large-Cap Fund commences In-Kind Tender Offer(C)2010 M2 COMMUNICATIONS http://www.
Therefore, the United States Government is now providing $217 million to assist with relief and recovery efforts, which does not include considerable in-kind and technical assistance specifically to address the impact of these floods.
3 million in other money and in-kind support, including grants from a number of private and charitable organizations across New Hampshire, putting the available funds for lead hazard reduction, education and outreach at more than $4 million.
As many nonprofits began to feel the pinch of tighter purse strings during the fourth quarter of 2008, in-kind groups continued an impressive performance that led to some of the largest gains among The NPT 100 organizations.