P.R.T.
English translation: partea din rezervele tehnice la asigurari generale
| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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| 17:31 May 23, 2005 |
| Romanian to English translations [PRO] Bus/Financial - Accounting | |||||||
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|  Selected response from: NINA (Irina) SMOLEANU Romania Local time: 10:07 | ||||||
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| Summary of answers provided | ||||
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| 4 | PRT = personal residence trust |
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| 2 | expl |
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| Discussion entries: 1 | |
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Answers
1 hr confidence: 
PRT = personal residence trust Explanation: A Personal Residence Trust ("PRT") is an irrevocable Trust, created for a term of years, to which you transfer your personal residence. You retain the right to live in the residence for the term of the Trust. Provided you survive the term of years for which the Trust has been created, the remainder beneficiaries of the trust (usually your children) become the owners of the residence upon the expiration of the term of years. At that time, you must either vacate the residence or enter into a formal lease with the remainder beneficiaries and pay fair market rent to them. Upon your death, the value of the residence (including any appreciation) is not included in your taxable estate. On the other hand, if you die before the trust's term of years ends, then the residence is included in your taxable estate. Reference: http://www.ataxplan.com/thebook/qprt_updates/appendix_e.htm |
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| The asker has declined this answer Comment: Twermenul este in romaneste si nu in englezeste. Multumesc in orice caz. | ||
1 hr confidence:
expl Explanation: "Partea din rez. teh. afer. contr. cedate in reasig. *P.R.T.* la asig. generale" cred ca este "partea din rezervele tehnice aferente contractelor cedate in reasigurari" caz in care "PRT la asig generale" poate fi "partea din rezervele tehnice la asigurari generale" La fel de bine s-ar putea sa fiu complet pe langa. |
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