§ 29A-6-402 — Definitions.

Terms used in this part mean: (1) "Beneficiary," a person who receives property under a transfer on death deed; (2) "Designated beneficiary," a person designated to receive property in a transfer on death deed; (3) "Joint owner," any individual who owns property concurrently with one or more other individuals with a right of survivorship. The term includes a joint tenant with a right of survivorship. The term does not include a tenant in common; (4) "Person," an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity; (5) "Property," an interest in real property located in this state which is transferable on the death of the owner; (6) "Transfer on a death deed," a document authorized under this part and is considered a governing instrument as defined by subdivision 29A-1-201(19); (7) "Transferor," any individual who makes a transfer on a death deed.

Legislative History

SL 2014, ch 133, § 2.