GIFT-LEASEBACK
\ɡˈɪftlˈiːsbak], \ɡˈɪftlˈiːsbak], \ɡ_ˈɪ_f_t_l_ˈiː_s_b_a_k]\
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Transferring assets or property ownership to a trust or beneficiary by signed arrangement. The original owner rents / leases the property or assets back from the trust or beneficiary after signing the arrangement. A tax advantage is usually gained.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.