§ 9-201. Definitions
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2019
Effective: October 1, 2019
MD Code, Estates and Trusts, § 9-201
§ 9-201. Definitions
(b) “Beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of:
(c) “Disclaimant” means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made.
(d) “Disclaimed interest” means the interest that would have passed to the disclaimant had the disclaimer not been made.
(f) “Fiduciary” means a personal representative, trustee, agent acting under a power of attorney, or other person authorized to act as a fiduciary with respect to the property of another person.
(g) “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation.
(h) “Jointly held property” means property held in the name of two or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property.
(i) “Person” means an individual, corporation, business trust, statutory trust, estate, trust, partnership, limited liability company, association, joint venture, governmental subdivision, governmental agency, governmental instrumentality, public corporation, legal entity, or commercial entity.
(j) “Time of distribution” means the time when a disclaimed interest would have taken effect in possession or enjoyment.
Credits
Added by Acts 2004, c. 465, § 2, eff. Oct. 1, 2004. Amended by Acts 2010, c. 611, § 2, eff. June 1, 2010; Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.
MD Code, Estates and Trusts, § 9-201, MD EST & TRST § 9-201
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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