West Virginia Code > Chapter 43 > Article 2 – Valuation of Life Estates
Current as of: 2023 | Check for updates
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Other versions
| 43-2-1 | Gross sum in payment of life estates |
| 43-2-2 | Rule of calculation |
| 43-2-3 | Examples |
Terms Used In West Virginia Code > Chapter 43 > Article 2 - Valuation of Life Estates
- 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.
- Dower: A widow
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).