grit

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Related to Grantor Retained Income Trust: IDGT

grit

1. any coarse sandstone that can be used as a grindstone or millstone
2. Engineering an arbitrary measure of the size of abrasive particles used in a grinding wheel or other abrasive process

Grit

 

cemented gravel with the texture of sandstone. Grit is widely distributed among sedimentary formations. Its presence is evidence of the intensive erosion of more ancient layers, and it indicates the proximity of a shoal, dry land, or rises (positive forms of basin bottom relief).

grit

[grit]
(geology)
A hard, sharp granule, as of sand.
A coarse sand.
(materials)
An abrasive material composed of angular grains.
(petrology)
A sandstone composed of angular grains of different sizes.

grit

A granular abrasive material (e.g., consisting of particles of aluminum oxide or silicon carbide) which is used to coat cloth, paper, or wheels for sanding, grinding, or polishing; also used to provide a nonslip finish to a surface.
References in periodicals archive ?
Some techniques that still work after the implementation of Chapter 14 include private annuities (which never had broad appeal but do have beneficial uses in certain situations J), grantor retained income trusts for personal residences, tangible property trusts and grantor retained annuity and unitrusts.
Each of the tax services critiqued was used to determine the tax effects of a corporate guarantee of shareholder indebtedness in one instance; the use of a grantor retained income trust (GRIT)for the purpose of holding a painting in another, and the effect on a Sec.
A grantor retained income trust (GRIT) gives the income beneficiary a right to all the income that the trust corpus earns and is therefore deemed the owner of the trust income.