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Also known as a Period Certain Annuity. Fixed Period Annuity is a term used to describe a specific payout option for an Immediate Annuity contract. When an annuity distribution period begins or the annuitization begins, the annuitant can choose distributions over a fixed period of time.
What does âproperty settlementâ mean? Property settlement is the final stage of a property sale wherein the buyer completes payment of the contract price to the vendor and takes legal possession of the property. The âsettlement periodâ is the amount of time between the exchange of contracts and the property settlement.