§ 17-101. Definitions
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2021
Effective: October 1, 2021
MD Code, Estates and Trusts, § 17-101
§ 17-101. Definitions
(b)(1) “Agent” means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney-in-fact, or otherwise.
(d) “Electronic power of attorney” means a power of attorney containing one or more electronic signatures and executed in compliance with this title.
(g) “Incapacity” means the inability of an individual to manage property or business affairs because the individual:
(i) “Power of attorney” means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term “power of attorney” is used.
(j) “Principal” means an individual who grants authority to an agent in a power of attorney.
(k) “Property” includes both real and personal property and any right or title in real or personal property, whether held individually or jointly and whether indivisible, beneficial, contingent, or of any other nature.
(l) “Real estate transaction” means any activity involving the transfer or creation of an estate, interest, lien, or encumbrance in real property, including rights or interests appurtenant to, and the disposition of proceeds derived from, the property.
(n) “Remotely witnessed power of attorney” means a power of attorney signed by the principal under circumstances where any witness is in the electronic presence of the principal or other witness when the witness attests and signs the power of attorney.
(p)(1) “Statutory form power of attorney” means a power of attorney that is substantially in the same form as one of the powers of attorney set forth in Subtitle 2 of this title.
(q)(1) “Stocks and bonds” means evidence of ownership in or debt issued by a corporation, partnership, limited liability company, firm, association, or similar entity.
(2) “Stocks and bonds” includes stocks, bonds, debentures, notes, membership interests, mutual fund interests, money market account interests, voting trust certificates, equipment trust certificates, certificates of deposit, certificates of participation, certificates of beneficial interest, stock rights, stock warrants, and any other instruments evidencing rights of a similar character issued by or in connection with any corporation, partnership, limited liability company, firm, association, or similar entity.
Credits
Added by Acts 2010, c. 689, § 1, eff. Oct. 1, 2010; Acts 2010, c. 690, § 1, eff. Oct. 1, 2010. Amended by Acts 2011, c. 74, § 1, eff. June 1, 2011; Acts 2011, c. 75, § 1, eff. June 1, 2011; Acts 2012, c. 84, § 1, eff. Oct. 1, 2012; Acts 2012, c. 85, § 1, eff. Oct. 1, 2012; Acts 2021, c. 686, § 1, eff. Oct. 1, 2021.
MD Code, Estates and Trusts, § 17-101, MD EST & TRST § 17-101
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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