Other Free Encyclopedias » Law Library - American Law and Legal Information » Free Legal Encyclopedia: Load Lines to Market value

Lump-Sum Settlement

payment money obligation alimony

The payment of an entire debt all at once rather than in installments; the payment of a set amount of money to satisfy a pecuniary obligation that might otherwise continue indefinitely.

Lump-sum alimony, for example, is the payment of a large sum of money upon the dissolution of a marriage in order to circumvent the obligation to pay a certain amount, fixed or fluctuating, on a regular basis, for an indefinite period of time. This type of PROPERTY SETTLEMENT is also known as alimony in gross.

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or