grit

(redirected from Grantor Retained Income Trust)
Also found in: Dictionary, Thesaurus, Medical, Financial, Acronyms.
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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

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).

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.

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.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.

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.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.
References in periodicals archive ?
The use of Grantor Retained Income Trusts (GRITs), Grantor Retained Annuity Trusts (GRATs) and Grantor Retained Unitrusts (GRUTs) can be used as effective tools in estate planning for S Corp shareholders.
In 1985, the O'Reillys donated 20 shares of stock in their closely held corporation to various grantor retained income trusts with terms of two to four years.
Affected by Chapter 14 are Buy/Sell Agreements (discussion in footnote 3, page 141), Family Holding Companies (discussion on page 427), Family Limited Partnerships (chart, page 179, and discussion on pages 483-484), Grantor Retained Annuity Trusts (chart, page 71), Grantor Retained Income Trusts (discussion on page 437), Personal Holding Companies (discussion on page 490), Recapitalizations (chart, page 183), and Remainder Interest Transactions (discussion on page 516).