assets by descent

variants: or assets per descent

Definition of assets by descent

: assets left to an heir which make the heir liable for the debts of his or her ancestor due under a deed or a sealed instrument to the extent of the value of the assets used in the older law of the administration of estates

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Cite this Entry

“Assets by descent.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/assets%20by%20descent. Accessed 16 Jan. 2021.

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