§ 30.1-10.1-01 — (2-1102) Definitions

North Dakota § 30.1-10.1-01

• Jurisdiction: North Dakota
• Title 30.1: Uniform Probate Code
• Ch. 30.1-10.1: Disclaimer of Property Interests

Text

In this chapter:
1. "Beneficiary designation" means an instrument, other than an instrument creating a
trust, naming the beneficiary of an insurance or annuity policy; an account with a
designation for payment on death; a security registered in beneficiary form; a pension,
profit-sharing, retirement, or other employment-related benefit plan; or any other
nonprobate transfer at death.
2. "Disclaimant" means the person to whom the disclaimed interest or power would have
passed had the disclaimer not been made.
3. "Disclaimed interest" means the interest or share to which the disclaimant would have
been entitled had the disclaimer not been made.
4. "Disclaimer" means a refusal to accept an interest in, or power over, property.
5. "Distribution time" means the time when the disclaimed interest would have taken
effect in possession or enjoyment.
6. "Fiduciary" means a personal representative, trustee, an agent acting under a power
of attorney, or other person authorized to act as a fiduciary with respect to the property
of another person.
7. "Future interest" means an interest that takes effect in possession or enjoyment, if at
all, after the time of its creation.
8. "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.
9. "Record" means information that is inscribed on a tangible medium or that is stored in
an electronic or other medium and is retrievable in perceivable form.
10. "Signed" means, with present intent to authenticate or adopt a record, to execute or
adopt a tangible symbol, or attach to or logically associate with the record an
electronic sound, symbol, or process.
11. "State" means a state of the United States, the District of Columbia, Puerto Rico, the
United States Virgin Islands, or any territory or insular possession subject to the
jurisdiction of the United States. The term includes an Indian tribe or band, or Alaskan
native village, which is recognized by federal law or formally acknowledged by a state.
12. "Trust" means an express trust, charitable or noncharitable, with additions, whenever
and however created; and means a trust created pursuant to a statute, judgment, or
decree which requires the trust to be administered in the manner of an express trust.