incident of ownership

incident of ownership
incident of ownership: any of several rights (as the right to change beneficiaries) that may be exercised over a life insurance policy which are used as criteria for the inclusion of the value of a policy in a decedent's gross estate for purposes of estate tax

Merriam-Webster’s Dictionary of Law. . 1996.

incident of ownership
n.
Partial or complete ownership or control of a life insurance policy.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


incident of ownership
Some aspect of the exclusive possession or control over the disposition or use of property that demonstrates that the person with such exclusive rights has not relinquished them.

Dictionary from West's Encyclopedia of American Law. 2005.


incident of ownership
Some aspect of the exclusive possession or control over the disposition or use of property that demonstrates that the person with such exclusive rights has not relinquished them.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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