qualified ownership

qualified ownership
qualified ownership see ownership

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

qualified ownership
Ownership with limitations or conditions. For example, if your grandmother leaves you a plot of land, but requires that you never build on it.
Category: Real Estate & Rental Property
Category: Wills, Trusts & Estates

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • qualified ownership — Ownership of property is either absolute or qualified. The ownership of property is absolute when a single person has the absolute dominion over it, and may use it or dispose of it according to his pleasure, subject only to general laws. The… …   Black's law dictionary

  • ownership — own·er·ship n: the state, relation, or fact of being an owner; also: the rights or interests of an owner reduced their ownership by one third absolute ownership: ownership esp. by a single person that is free of any encumbrances or limitations… …   Law dictionary

  • qualified personal residence trust — (QPRT) A trust designed to save on estate tax by moving a residence (or vacation home, if certain conditions in the tax code are met) out of the owners taxable estate. The owner transfers ownership of the property to the trust but keeps the right …   Law dictionary

  • ownership — Collection of rights to use and enjoy property, including right to transmit it to others. Trustees of Phillips Exeter Academy v. Exeter, 92 N.H. 473, 33 A.2d 665, 673. The complete dominion, title, or proprietary right in a thing or claim. The… …   Black's law dictionary

  • Qualified New York parties — Elections in New York Federal offices Presidential elections 1996 · 2000 · 2004  …   Wikipedia

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  • Qualified domestic relations order — A Qualified domestic relations order or QDRO is a legal order subsequent to a divorce or legal separation that splits and changes ownership of a retirement plan to give the divorced spouse their share of the asset or pension plan. QDROs may grant …   Wikipedia

  • qualified property — noun a) ownership that is not absolute and complete A famous example of qualified property can be found in most wildlife preserves. b) property the subject matter of which by nature is not permanent (as wild animals reduced to possession but not… …   Wiktionary

  • Qualified Domestic Institutional Investor - QDII — An institutional investor that has met certain qualifications to invest in securities outside its home country. The most popular QDII program comes from the People s Republic of China, where the main regulatory body (the China Securities… …   Investment dictionary

  • qualified property — Property in chattels which is not in its nature permanent, but may at some times subsist and not at other times; such for example, as the property a man may have in wild animals which he has caught and keeps, and which are his only so long as he… …   Black's law dictionary

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