Juridical Dictionary

This dictionary contains:
8526
juridical terms

Inheritance tax




Inheritance tax

A state tax on property that an heir or beneficiary under a will receives from a deceased person's estate. The heir or beneficiary pays this tax.

RELATED TERMS
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State
1) Government. In its most enlarged sense, it signifies a self-sufficient body of persons united together in one community for the defence of their rights, and to do right and justice to foreigners. In this sense, the state means the whole people united into one body politic; and the state, and the people of the state, are equivalent expressions. 2) Condition of persons. This word has various acceptations. If we inquire into its origin, it will be found to come from the Latin status, which is derived from the verb stare, sto, whence has been made statio, which signifies the place where a person is located, stat, to fulfil the obligations which are imposed upon him.

Property
Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.

Heir
One born in lawful matrimony, who succeeds by descent, and right of blood, to lands, tenements or hereditaments, being an estate of inheritance. It is an established rule of law, that God alone can make an heir. According to many authorities, heir may be nomen collectivuum, as well in a deed as in a will, and operate in both in the same mannar, as heirs in the plural number.

Beneficiary
A broad definition for any person or entity who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution.

Will
A will is a legal document in which a person directs how his property is to be distributed after his death. Such documents must be executed in due form and must be duly witnessed.

Estate
A right or interest in property or the property of a deceased person.

Pays
The country. Trial per pays, is a trial by the country; that is, by jury.

Tax
Government's forcible collection of money from the supposedly free citizens. The excuse for this is catering for the needs of others, as well as vague concepts like "general interest" or the country's public welfare. In democratic countries, taxes are theoretically legitimized by the majority's will via laws enacted by a representative parliament, but the fundamental flaw remains that the taxed citizen has not been invited to negotiate the tax individually.



SIMILAR TERMS
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Inherent power
An authority possessed without its being derived from another. It is a right, ability or faculty of doing a thing, without receiving that right, ability or faculty from another.

Inheritance
1) Estates. A perpetuity in lands to a man and his heirs; or it is the right to succeed to the estate of a person who died intestate. 2) The property which is inherited is called an inheritance. 3) Among the civilians, by inheritance is understood the succession to all the rights of the deceased.



PREVIOUS AND NEXT TERMS
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Ingressu
An ancient writ of entry, by which the plaintiff or complainant sought an entry into his lands.

Ingrossing
Practice. The act of copying from a rough draft a writing in order that it may be executed.

Inhabitant
One who has his domicil in a place is an inhabitant of that place; one who has an actual fixed residence in a place.

Inherent power
An authority possessed without its being derived from another. It is a right, ability or faculty of doing a thing, without receiving that right, ability or faculty from another.

Inheritance
1) Estates. A perpetuity in lands to a man and his heirs; or it is the right to succeed to the estate of a person who died intestate. 2) The property which is inherited is called an inheritance. 3) Among the civilians, by inheritance is understood the succession to all the rights of the deceased.

Inheritance tax

Inhibition
1) Scotch law. A personal prohibition which passes by letters under the signet, prohibiting the party inhibited to contract any debt, or do any deed, by which any part of the lands may be aliened or carried off, in prejudice of the creditor inhibiting. 2) English law. The name of a writ which forbids a judge from further proceeding in a cause depending before him; it is in the nature of a prohibition.

Iniquity
Vice; contrary to equity; injustice.

Initial
Placed at the beginning.

Initial appearance
The defendant comes before a judge within hours of the arrest to determine whether or not there is probable cause for his or her arrest.

Initialia testimonii
Scotch law. Before a witness can be examined in chief, he may be examined with regard to his disposition, whether he bear good or ill will towards either of the parties whether he has been prompted what to say whether he has received a bribe, and the like. This previous examination, which somewhat resembles our voir dire, is called initialia testimonii.

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This dictionary contains 8526 terms.







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