FindLaw Legal Dictionary
The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.
gain n1 : an increase in value, capital, or amount compare loss
: a gain realized on the sale or exchange of a capital asset (as a stock or real estate)
: a gain realized by an insured because property insurance benefits paid for a loss from a casualty or theft are greater than the adjusted value of the insured asset
long-term capital gain
: a capital gain realized on the sale or exchange of an asset held for more than a specified period (as a year)
: a gain from the exchange or sale of an asset that is not capital
short-term capital gain
: a capital gain realized on the sale or exchange of an asset held for less than a specified period (as a year) that is treated as ordinary income under federal income tax laws
in the civil law of Louisiana
: a class of community property that reflects the increase in property value contributed by the common skill or labor of the spouses
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.