A clause in a property policy which provides for fixed monthly percentage increases in the sum insured to cater for inflation, etc.
A clause in a property policy which provides for fixed monthly percentage increases in the sum insured to cater for inflation, etc.
Ownership of property shared equally by two or more parties, under which the survivor assumes complete ownership. This is different from a tenancy in common where the heirs of a deceased party to the tenancy inherit his or her share.