MLchartDataset catalogue

Private annuity

Term · Law · MLC-T-LAW-003910

A financial arrangement where one party transfers property to another in exchange for a promise of periodic payments for the remainder of the transferor's life. This agreement is not backed by an insurance company and is instead a direct contract between individuals. The tax implications of a private annuity can be complex, involving both income and estate tax considerations.

Table 1. Record
IdentifierMLC-T-LAW-003910
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003910",
  "term": "Private annuity",
  "field": "Law",
  "definition": "A financial arrangement where one party transfers property to another in exchange for a promise of periodic payments for the remainder of the transferor's life. This agreement is not backed by an insurance company and is instead a direct contract between individuals. The tax implications of a private annuity can be complex, involving both income and estate tax considerations.",
  "url": "https://mlchart.com/terminology/law/private-annuity/"
}

Record 3,945 of 5,441 in Law terminology (MLC-0107). Request the full dataset.