- tontine
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a scheme for raising money by which the lenders receive an annuity for life that increases as the other investors die until the last survivor receives the total of all the annuities.
Collins dictionary of law. W. J. Stewart. 2001.
- tontine
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An agreement in which investors receive annuity payments, with the special provision that when one participant dies, his or her share goes to the others (increasing the payments to the survivors). Generally, the last to die receives the remaining funds. They are illegal in the United States.Category: Personal Finance & RetirementCategory: Wills, Trusts & Estates
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- tontine
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An organization of individuals who enter into an agreement to pool sums of money or something of value other than money, permitting the last survivor of the group to take everything.
Dictionary from West's Encyclopedia of American Law. 2005.
- tontine
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An organization of individuals who enter into an agreement to pool sums of money or something of value other than money, permitting the last survivor of the group to take everything.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- tontine
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n.a rare agreement among several persons who agree that each will invest in an annuity and the last to die will receive the remaining assets and profits.
Law dictionary. EdwART. 2013.