qualified personal residence trust

An irrevocable trust that is funded with cash and the personal residence of the grantor, who retains the right to dwell in the residence for a specified term of years.

• The trust can receive and hold additional cash to pay for trust expenses, mortgage installments, and improvements to the residence. — Abbr. QPRT. Cf. personal-residence trust.

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词条贡献者

双语律师李明，国际知名法学院法律专业，擅长翻译各类与政府监管相关的法律文件。