Legal Terms

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Testamentary Transfer.

Transfer of the assets of an estate according to the provisions of the deceased person's last will and testament. Contrast with Inter Vivos Transfer.

Testamentary Trust.

A trust created after the grantor's death, according to the provisions of the deceased person's last will and testament. Contrast with Inter Vivos Trust.

Tort.

A private wrong, independent of contract and committed against an individual, which gives rise to a legal liability and is adjudicated in a civil court. A tort can be either intentional or unintentional, and it is mainly against liability for unintentional torts that one buys Liability Insurance.

Tort Feasor.

A person who has committed a tort.

Trespasser.

An individual who goes onto another person's property without any legal right to do so. The only duty that the owner of the property owes a trespasser is not to intentionally harm or set a trap for him.

Twisting.

The act of, or attempt thereat, which induces a policy owner, by means of misrepresentation, to drop an existing policy and take another. Note that it is the misrepresentation that is illegal, not the replacement of one policy by another.