CFR > Title 31 > Subtitle A > Part 23 > Subpart B – Standards for Determining Age Discrimination
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Terms Used In CFR > Title 31 > Subtitle A > Part 23 > Subpart B - Standards for Determining Age Discrimination
- Appraisal: A determination of property value.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Grantor: The person who establishes a trust and places property into it.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lineal descendant: Direct descendant of the same ancestors.
- Statute: A law passed by a legislature.