Glossary entry (derived from question below)
English term or phrase:
Income Trusts in default of appointment
Spanish translation:
Trust de ingresos asignados por defecto
Added to glossary by
Lihuel Muñoz
Mar 19, 2021 15:48
3 yrs ago
17 viewers *
English term
Income Trusts in default of appointment
English to Spanish
Law/Patents
Law: Contract(s)
Trust
Buenos días. Estoy traduciendo un escritura de constitución de un Trust y en el índice aparece este título. Se me ocurrió: "Fideicomisos de rentas en caso de falta de designación", pero no estoy segura. Muchas gracias.
Proposed translations
(Spanish)
| 3 | Trust de ingresos asignados por defecto |
María Nuñez Laluz
|
| 3 +1 | Fideicomisos de Rentas en espera de nombramiento |
Marcelo Viera
|
Proposed translations
51 mins
María Nuñez Laluz
Uruguay
Uruguay
Native in Spanish
Specializes in field
Uruguay
ING>
Native in: Spanish (Variants: Latin American, Uruguayan, Standard-Spain, Argentine) 
Works in: English to Spanish, Spanish to English, Portuguese to Spanish
Related KudoZ points
:
4
Selected
Trust de ingresos asignados por defecto
El término Trust en español latino se usa escrito de esa forma, también se lo ve con el nombre de Fideicomiso. Es un contrato por el cual se transfiere la propiedad de ciertos bienes a otra persona para que éste los administre de acuerdo a las cláusulas mencionadas en dicho contrato
4 KudoZ points awarded for this answer.
Comment: "Gracias a todos por las respuestas!"
+1
1 hr
Marcelo Viera
Uruguay
Uruguay
Native in Spanish
Uruguay
Technical Translations Specialist
Native in: Spanish
Works in: English to Spanish, Spanish to English
Related KudoZ points
:
16
Fideicomisos de Rentas en espera de nombramiento
• The status of the trust, discretionary or interest in possession (IIP), is determined by the trusts that apply until the power of appointment is exercised (trusts in default of appointment). Many years might pass before any appointment is made.
• In this case, after the income powers, the next clause might say, ‘Subject to and in default of appointment to William Jones for life.’ That is an IIP.
• Or it could say, ‘Subject to and in default of appointment my trustees shall pay the income as it arises to such members of the discretionary class (defined at clause…) as my trustees in their absolute discretion think fit.’ That is not an IIP.
The power of appointment hangs over any existing vested IIPs but has effect only when exercised. In deciding whether a trust is IIP or discretionary, the trust in default of appointment prevails.
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-man...
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Note added at 1 hr (2021-03-19 17:14:17 GMT)
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or "en ausencia de nombramiento"
• In this case, after the income powers, the next clause might say, ‘Subject to and in default of appointment to William Jones for life.’ That is an IIP.
• Or it could say, ‘Subject to and in default of appointment my trustees shall pay the income as it arises to such members of the discretionary class (defined at clause…) as my trustees in their absolute discretion think fit.’ That is not an IIP.
The power of appointment hangs over any existing vested IIPs but has effect only when exercised. In deciding whether a trust is IIP or discretionary, the trust in default of appointment prevails.
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-man...
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Note added at 1 hr (2021-03-19 17:14:17 GMT)
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or "en ausencia de nombramiento"
Peer comment(s):
| agree |
Edier Quintana
: Me gusta más "en ausencia de nombramiento".
1 hr
|
|
Tienes razón
|
Discussion
in the absence of; through lack of
in default of in British English
through or in the lack or absence of
in default of
prepositional phrase [PREPOSITION noun/-ing]
If something happens in default of something else, it happens because that other thing does not happen or proves to be impossible.
[formal]
Malvolio becomes, in default of competition, the play's moral centre.
https://www.collinsdictionary.com/dictionary/english/in-defa...