Interest in possession trust — An interest in possession trust is a form of legal arrangement which gives a person a present right to the present enjoyment of something [ Viscount Dilhorne in Pearson v IRC [1980] STC 318 at 323] . At least one of the beneficiaries of this type … Wikipedia
interest-in-possession trust — A type of fixed interest trust in which there is an entitlement to the income generated by the trust assets. The beneficiaries of an interest in possession trust, the life tenants, are entitled to the income arising for a fixed period or until… … Accounting dictionary
interest-in-possession trust — A type of fixed interest trust in which there is an entitlement to the income generated by the trust assets. The beneficiary of an interest in possession trust, the life tenants, are entitled to the income arising for a fixed period or until… … Big dictionary of business and management
qualifying interest in possession — England, Wales qualifying interest in possession (qualifying IIP) Qualifying interest in possession (IIP) trusts are treated, for inheritance tax purposes, as though the assets belonged to the life te … Law dictionary
Possession (video game) — Infobox VG| title = Possession developer = Volatile Games publisher = TBA designer = engine = released = Q1 2010 genre = Real time strategy modes = Single player, Multiplayer ratings = platforms = PlayStation 3, Xbox 360, Microsoft Windows media … Wikipedia
interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim … Law dictionary
Interest — Interest † Catholic Encyclopedia ► Interest Notion of interest Interest is a value exacted or promised over and above the restitution of a borrowed capital. ♦ Moratory interest, that is interest due as an indemnity or a… … Catholic encyclopedia
possession — pos·ses·sion /pə ze shən/ n 1: the act, fact, or condition of having control of something: as a: actual possession in this entry b: constructive possession in … Law dictionary
interest in property — In the broader sense of the term, ownership of a particular property, whether of the full or a lesser interest. More precisely, a right in or to property which is less than ownership or title, 29A Am J Rev ed Ins § 825. A right less than an… … Ballentine's law dictionary
possession — Occupancy and exercise of dominion over property. 42 Am J2d Prop § 42. The exercise of dominion over land, even without a residence thereon. Morrison v Kelly, 22 Ill 610. A holding of land legally by one s self or through another, such as a… … Ballentine's law dictionary
