Dowable refers to the ability to be gifted or inherited. For instance, if an estate is dowable, it implies that it can be passed on to another individual upon the owner’s death.
Definition:
Dowable (dow-?-b?l), adjective. Able to be endowed. – The widow was given an estate that was dowable. The term dowable refers to something that can be endowed, which means to provide with a permanent source of income or property. In this case, the widow received an estate that was capable of being endowed, indicating that it was a property that could provide her with a permanent source of income. This term is commonly used in legal or financial settings.
Dowable is a legal term that refers to property that can be transferred or conveyed to another person.
Real estate, personal property, and other assets that can be transferred or conveyed are considered Dowable.
Yes, Dowable property can be inherited by the heirs of the deceased owner.
Yes, Dowable property can be sold or transferred to another person.
Non-Dowable property is property that cannot be transferred or conveyed to another person, such as property that is held in trust or property that is subject to certain legal restrictions.
In a divorce, Dowable property is typically divided between the spouses according to the laws of the state in which the divorce is taking place.
Yes, Dowable property can be used as collateral for a loan, such as a mortgage or a car loan.
If the owner of Dowable property dies without a will, the property will be distributed according to the laws of intestacy in the state in which the owner lived.
Yes, Dowable property can be transferred to a trust, which can provide certain tax benefits and other advantages.
The best way to protect Dowable property is to ensure that it is properly titled and documented, and to consult with an experienced attorney to develop a comprehensive estate plan.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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