Terms Used In Minnesota Statutes > Chapter 356 > REFUNDS

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.