Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
qualified-terminable-interest property
Property that passes by a QTIP trust from a deceased spouse to the surviving spouse and that (if the executor so elects) qualifies for the marital deduction provided that the spouse is entitled to receive income in pay- ments made at least annually for life and that no one has the power to appoint the property to anyone other than the surviving spouse. ( This property is included in the surviving spouse's estate at death, where it is subject to the federal estate tax. See QTIP trust under TRUST.
qualified-terminable-interest property.
See PROPERTY.