§ 15-15-401 — Definitions

As used in this part 4, unless the context otherwise
requires:

(1) Beneficiary deed means a deed, subject to revocation by the owner,
which conveys an interest in real property and which contains language that the
conveyance is to be effective upon the death of the owner and which may be in
substantially the form described in section 15-15-404.

(2) Deed means any instrument of conveyance of real property.

(3) Grantee-beneficiary means one or more persons or entities capable of
holding title to real property designated in a beneficiary deed to receive an interest
in real property upon the death of the owner. Grantee-beneficiary includes, but is
not limited to, a successor grantee-beneficiary.

(4) Owner means the grantor of a beneficiary deed.

(5) Successor grantee-beneficiary means the person or entity designated
in a beneficiary deed to receive an interest in the property if the primary grantee-beneficiary does not survive the owner.

(6) (a) Transfer, when used as a verb, means to convey.

(b) Transfer, when used as a noun, means a conveyance.

Legislative History

Source: L. 2004: Entire part added, p. 727, � 1, effective August 4.