Terms Used In Alabama Code 30-4-5

  • Bequest: Property gifted by will.
  • Contract: A legal written agreement that becomes binding when signed.
  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • Trustee: A person or institution holding and administering property in trust.

All property of the wife, whether acquired by descent or inheritance, or gift, devise or bequest, or by contract or conveyance, or by gift from or contract with the husband, is the separate property of the wife within the meaning of, and is subject to all the provisions of, this chapter, saving and excepting only such property as may be conveyed to an active trustee for her benefit.