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t. e. United States trust law is the body of law that regulates the legal instrument for holding wealth known as a trust. Most of the law regulating the creation and administration of trusts in the United States is now statutory at the state level. In August 2004, the National Conference of Commissioners on Uniform State Laws created the first ...
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or joint venture. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets of ...
The rule against perpetuities is a legal rule in common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from creating future ...
A conservation land trust is a private, non-profit corporation in the US that acquires land or conservation easements for the purpose of limiting commercial development and preserving open space, natural areas, waterways, and/or productive farms and forests. In the United States, the land owned by the United States government and held in trust ...
The policy also provides coverage for loss if there is no right of access to the land. Although these are the basic coverages, expanded forms of residential owner's policies exist that cover additional items of loss. [10] The liability limit of the owner's policy is typically the purchase price paid for the property.
Legal protection insurers cover the costs (e.g. legal fees and expenses of a lawyer) incurred in case of an unforeseen legal matter. These costs usually include lawyer and court fees, witness expenses, translation costs or expert fees. Depending on national law, legal protection insurers also provide legal services and represent policyholders ...
A charitable remainder unitrust (known as a "CRUT") is an irrevocable trust created under the authority of the United States Internal Revenue Code § 664 [1] ("Code"). This special, irrevocable trust has two primary characteristics: (1) Once established, the CRUT distributes a fixed percentage of the value of its assets (on an annual or more frequent basis) to a non-charitable beneficiary ...
The stock market collapsed in 1929 and pushed the price of cotton even lower. A few planters abandoned the tenant system and used tractors to plant the cotton and day pickers to harvest it ...