less than 1 minute read

Lump-Sum Settlement

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.

Additional topics

Law Library - American Law and Legal InformationFree Legal Encyclopedia: Load Lines to Market value