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LSDefine

Simple English definitions for legal terms

income property

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A quick definition of income property:

Income property: A type of property that makes money, like a rental property. When someone owns an income property, they can rent it out to others and make money from the rent payments. It's like having a job where the property is the boss and pays the owner instead of the other way around.

A more thorough explanation:

Definition: Income property is a type of property that generates income, such as rental property. It is a form of investment that can provide a steady stream of income for the owner.

Example: An example of income property is an apartment building that is owned by an individual or a company and rented out to tenants. The owner collects rent from the tenants, which is the source of income for the property. Another example is a commercial property, such as a shopping center or office building, that is leased to businesses.

Explanation: Income property is a valuable asset for investors who want to generate passive income. The examples illustrate how income property can be used to generate income through rent payments. The owner of the property is responsible for maintaining the property and ensuring that it is attractive to tenants. In return, the tenants pay rent, which provides a steady stream of income for the owner.

income in respect of a decedent | income-shifting

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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