§ 751. Definitions
Oklahoma Statutes AnnotatedTitle 60. Property
60 Okl.St.Ann. § 751
§ 751. Definitions
As used in this act,1 unless otherwise clearly required by the context:
1. “Beneficiary” means and includes any person entitled, but for his disclaimer, to take an interest, as grantee; as donee; under any assignment or instrument of conveyance or transfer; by succession to a disclaimed interest, other than by will, intestate succession or through the exercise or nonexercise of a testamentary power of appointment; as beneficiary of an inter vivos trust or insurance contract; pursuant to the exercise or nonexercise of a nontestamentary power of appointment; as donee of a power of appointment created by a nontestamentary instrument; or otherwise under any nontestamentary instrument;
2. “Interest” means and includes the whole of any property, real or personal, legal or equitable, or any fractional part, share or particular portion or specific assets thereof or any estate in any such property including but not limited to a joint tenancy interest in any such property, or power to appoint, consume, apply or expend property or any other right, power, privilege or immunity relating thereto; and
3. “Disclaimer” means a written instrument which declines, refuses, releases or disclaims an interest which would otherwise be succeeded to by a beneficiary, which instrument defines the nature and extent of the interest disclaimed thereby and which must be signed, witnessed and acknowledged by the disclaimant in the manner provided for deeds of real estate.
Credits
Laws 1973, c. 159, § 1; Laws 1988, c. 319, § 8, eff. Nov. 1, 1988.
Footnotes
Title 60, § 751 et seq.
60 Okl. St. Ann. § 751, OK ST T. 60 § 751
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document |