interest in possession trust
1Interest in possession trust — An interest in possession trust is a form of legal arrangement which gives a person a present right to the present enjoyment of something [ Viscount Dilhorne in Pearson v IRC [1980] STC 318 at 323] . At least one of the beneficiaries of this type …
2interest-in-possession trust — A type of fixed interest trust in which there is an entitlement to the income generated by the trust assets. The beneficiary of an interest in possession trust, the life tenants, are entitled to the income arising for a fixed period or until… …
3interest-in-possession trust — A type of fixed interest trust in which there is an entitlement to the income generated by the trust assets. The beneficiaries of an interest in possession trust, the life tenants, are entitled to the income arising for a fixed period or until… …
4interest in possession — England, Wales Interest in possession (IIP) is a trust law principle that has UK taxation implications. A beneficiary of a trust has an IIP if they have the immediate right to receive the income arising from the trust property, or have the use… …
5qualifying interest in possession — England, Wales qualifying interest in possession (qualifying IIP) Qualifying interest in possession (IIP) trusts are treated, for inheritance tax purposes, as though the assets belonged to the life te …
6trust — An arrangement enabling property to be held by a person or persons (the trustees) for the benefit of some other person or persons (the beneficiaries). The trustee is the legal owner of the property but the beneficiary has an equitable interest in …
7trust — An arrangement enabling property to be held by a person or persons (the trustees) for the benefit of some other person or persons (the beneficiaries). The trustee is the legal owner of the property but the beneficiary has an equitable interest in …
8trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …
9interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim …
10trust receipt — n: a trust agreement between a lender and a borrower by which the lender gives up possession of goods without abandoning title and the borrower agrees to hold the goods in trust for the lender and if the goods are sold to turn the proceeds over… …