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. . 2001.

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 & Retirement
Category: Wills, Trusts & Estates

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

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.

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.

   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. . 2013.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • tontine — [ tɔ̃tin ] n. f. • 1652; de Tonti, n. de l inventeur de ce système 1 ♦ Dr. Opération par laquelle plusieurs personnes constituent un fonds commun afin de jouir d une rente viagère ou de se partager, à échéance, le capital accumulé, la part d un… …   Encyclopédie Universelle

  • Tontine — Ton*tine , n. [F., from It. tontina; so called from its inventor, Tonti, an Italian, of the 17th century.] An annuity, with the benefit of survivorship, or a loan raised on life annuities with the benefit of survivorship. Thus, an annuity is… …   The Collaborative International Dictionary of English

  • tontine — 1765, from Fr. tontine, named for Lorenzo Tonti, Neapolitan banker who in 1653 first proposed this method of raising money …   Etymology dictionary

  • Tontine — Tontine, eine angeblich zuerst von dem Venetianer (u. A. Neapolitaner) Lorenzo Tonti in der Mitte des 12. Jahrh. erdachte Art Leibrente, bei welcher sich mehre Personen in der Art mit einander vereinigen, daß jedem Theilnehmer gegen Erlegung… …   Pierer's Universal-Lexikon

  • Tontine — Tontīne, nach dem Italiener Tonti (unter Ludwig XIV. von Frankreich) benannte Gesellschaft zu gegenseitiger Beerbung, besteht in Deutschland meist in Form der Rentenanstalten (s. Rente) …   Kleines Konversations-Lexikon

  • Tontine — Tontine, eine Art Leibrente, welche der Italiener Lorenzo Tonti erfand und zuerst 1653 in Frankreich einführte. Bei den T n wird das Kapital von einer ganzen Gesellschaft dargeliehen, welche als Gesammtheit die Zinsen davon zieht. Die Zinsen der… …   Damen Conversations Lexikon

  • tontine — tontíne ž mn DEFINICIJA bank. vrsta obveznica; u zamjenu za posuđeni novac zajmoprimac (država) pristaje zajmodavcima (skupina pojedinaca koji se ne poznaju) plaćati u određenim razdobljima fiksne iznose dok je živ bilo koji član skupine… …   Hrvatski jezični portal

  • tontine — [tän′tēn΄, tän tēn′] n. [Fr < It tontina, after Lorenzo Tonti, Neapolitan banker who introduced the system into France in the 17th c.] 1. a) a fund to which a group of persons contribute, the benefits ultimately accruing to the last survivor… …   English World dictionary

  • Tontine — In cryptography, a tontine is a secret sharing algorithm which allows n people to share secret data, such that any k of them can reconstruct it by combining their keys. : For the Australian pillow manufacturer, see Tontine Group. A tontine is an… …   Wikipedia

  • Tontine — Pour les articles homonymes, voir Tontine (Afrique). La tontine est un contrat aléatoire correspondant au financement collectif de l achat d un actif financier ou d un bien dont la propriété revient à une partie seulement des souscripteurs. On… …   Wikipédia en Français

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”