Examlex
A nonmonetary exchange is based on the fair value of the assets involved.
Life Estate
A property interest that lasts for the lifetime of a specific individual, after which the property passes to another designated party.
Conveyed
Transferred or passed on ownership, rights, or properties from one person to another.
Immediate Possession
Immediate possession refers to a legal situation where an individual or entity has the right to take control of a property or asset without delay.
Hayfield
A field where hay is grown, usually for agricultural purposes such as feeding livestock.
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